On Thursday, Visa announced it is launching Visa Developer, an open platform giving access to its payment technology to software app developers worldwide.
The company said that, at launch, it will offer access to 'some of Visa’s most popular payment technologies and services', adding there will be more in the future.
At the moment, Visa Developer offers account holder identification, person-to-person payment capabilities, secure in-store and online payment services such as Visa Checkout, currency conversion and consumer transaction alerts.
The beta version of the platform has been tested for the past couple of months, with a number of partners getting a chance to play with the new product and create a few prototypes. Visa's trial partners include Capital One, CIBC, Emirates NBD, National Australia Bank (NAB), RBC, TD Bank, Scotiabank, TSYS, U.S. Bank and VenueNext.
“As the leader in payments we have an opportunity to transform global commerce by opening-up access to our global network and supporting our clients, industry partners and innovators in their pursuit of creating new, easier and more secure ways to pay,” said Charlie Scharf, chief executive officer, Visa Inc. “Visa Developer represents not only a new access point to our network, but a new distribution platform for Visa products and services globally.”
The platform has been in the works for the past couple of years, the company said, adding that Visa is looking to transform its products and services into application programming interfaces (API), standard technology used by software and application developers all around the world.