Multi-device, multi-year agreement to develop mobile commerce solutions for smartphones and tablets; Intel Smartphone Reference Device certified for use with Visa payWave
Barcelona, February 27, 2012 - Visa Inc. (NYSE:V) and Intel Corporation today announced a strategic agreement to develop mobile commerce solutions tailored to consumers in developed and developing countries. During a press conference at Mobile World Congress in Barcelona, the companies outlined plans to collaborate to ensure consumers enjoy a consistent, streamlined, secure mobile commerce experience across Intel® AtomTM-based smartphones and tablets.
"Visa's agreement with Intel paves the way for financial institutions around the globe to offer their account holders mobile payments and financial services using innovative mobile devices and technologies designed by Intel," said John Partridge, President, Visa Inc. during the press conference. "This is another example of how Visa is making mobile payments broadly available across devices and operating systems and is ensuring that mobile commerce applications are aligned with existing technology and security standards established by the global payments industry."
The initial phase of the agreement between Visa and Intel includes:
"Intel's strategy is to enable more secure and compelling user experiences across a range of Intel-based mobile devices. Our alliance with Visa builds on this strategy and brings worldwide mobile payment and commerce solutions to Intel-based devices," said Mike Bell, Intel Vice President and General Manager of the company's Mobile and Communications Group. "Our work with Visa also extends to our customers designing products based on Intel's Smartphone Reference Device."
The agreement combines Visa's expertise in payment processing, account holder authentication and global network reach, with Intel's expertise and leadership in developing innovative technologies that serve as the foundation for the world's computing devices.
At Mobile World Congress in Barcelona, from February 27th to March 1st, the companies will showcase Visa mobile services on the new Intel mobile device, including V.me by Visa, Visa's new digital wallet service featuring the Visa payWave application; Movida, Visa's new payment service in India; and Visa Mobile Prepaid, Visa's new mobile-based product tailored to consumers in developing countries. Product demonstrations will be on display at Visa's booth in Hall 1, stand 1B19, and Intel's booth in Hall 8, stand B192.
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