SAN FRANCISCO, Dec 14, 2010 (BUSINESS WIRE) -- Visa Inc. (NYSE: V), the world's largest retail electronic payments network1, today announced it is making shopping easier and more convenient for budget-conscious consumers by offering the Visa Mobile application for the iPhone. Through a simple tap of the finger Visa account holders now have access to more than 50 unique merchant offers ranging from clothing and dining to entertainment. The Visa Mobile application is now available as a free download from the iTunes app store.
Visa is working with a select list of popular merchants to deliver exclusive offers to Visa account holders, helping them save money on every-day purchases. More than 50 merchants including some of the most popular retailers in the U.S. such as 24 Hour Fitness, Jos. A. Bank, Meineke, New York & Company, and Zales are providing discounts through the Visa Mobile application, helping them reach more consumers with targeted offers. Offers are automatically delivered and stored in the application, can be tailored to consumers' life styles and preferences, and can be redeemed either online or at physical retail locations. The application uses location-based technology to provide consumers with a map and directions to a nearby retailer where they can redeem merchant offers.
"Merchants are looking for new and more efficient ways to reach customers, while budget-conscious consumers expect a more rewarding and convenient shopping experience," said Bill Gajda, Head of Mobile at Visa Inc. "The Visa Mobile application meets the needs of both merchants and consumer and brings one of the most trusted brands in payments to the iPhone."
Visa is working closely with handset manufacturers, mobile network operators and technology providers around the globe to bring the reliability, scalability and trust of Visa payments to the mobile channel. The Visa Mobile application for the iPhone was developed in partnership with Monitise plc, a UK business which is a global-leading mobile banking and payments platform. Visa signed a global alliance with Monitise in June 2009 to custom-develop mobile services for Visa across a spectrum of handsets to ensure Visa account holders have a consistent, user-friendly, and secure mobile payment experience.
Visa Mobile Application Features
Visa account holders simply download the Visa Mobile application from the iTunes app store and immediately have access to more than 50 unique merchant offers. Key application features include:
Visa is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable digital currency. Underpinning digital currency is one of the world's most advanced processing networks--VisaNet--that is capable of handling more than 20,000 transaction messages a second, with fraud protection for consumers and guaranteed payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit www.corporate.visa.com.
Monitise plc (LSE: MONI.L) is a global leader in Mobile Money solutions, with the proven technology and expertise to enable financial institutions and other service providers to offer a wide range of mobile banking and payments services to their customers in both developed and developing territories.
With live services in the UK and in the USA, where it is in partnership with FIS, the company is currently working with international partners to deliver similar safe, secure mobile banking and payment services in territories worldwide, including India and the Asia Pacific region. Current key partners include Visa, VocaLink, FIS, HSBC, Lloyds TSB, First Direct, Royal Bank of Scotland, NatWest, Travelex, Ulster Bank, Standard Chartered Bank, Vodafone, Orange, O2, T-Mobile, 3 UK, Best Buy, The Carphone Warehouse and First Eastern.
For more information, visit https://www.monitisegroup.com
1 Based on payments volume, total volume, number of transactions and total number of cards in circulation.
SOURCE: Visa Inc.
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