Close
 

Visa invites payments innovation from local developers

  • Technology
  • June 28, 2016
  • Will Bowman
Visa invites payments innovation from local developers

At a media event in Auckland yesterday, Visa unveiled its new direction. Visa is focusing on the obvious trends at the intersection of the technology, payment, and commerce industries: collaborative innovation, customer experience, and the internet of things (IoT). The crucial starting point for this innovation is opening up the technology to developers in their own local markets. That’s the collaborative part.

“We’re moving from a fairly closed albeit big ecosystem to more of an open platform – from an ecosystem that has a traditional number of partners in banks, big merchants, and governments, to an open one, where we need to engage more with the technology community,” said Marty Kerr, Visa country manager for New Zealand and South Pacific.

The ultimate goal is to stay as relevant as possible within the realm of the IoT with the idea being to seamlessly integrate commerce into daily life.

Visa Checkout, the company’s first step towards improving the customer purchasing experience, follows the likes of PayPal with an “account’ setup. The service integrates with the merchants’ online shop and will hold a ‘tokenised’ copy of your financial data for an added layer of security. The next step for the service is to introduce biometric support to allow fingerprint reading to complete a purchase.

“Payments must keep pace with customer experience. They cannot be a hard part of commerce,” says Kerr. He says Visa aims to bridge both the physical and digital world.

Kerr pointed to services that are already removing pain points in the transaction process, like Open Table, which allows you to pay for your bill via your phone at your table. Then there’s Disney’s RFID bands, which identify visitors, let them on rides, take payments, and give them access to their hotel rooms.

Visa’s role is to transform the commerce experience in these areas. And its open platform allows new participants to work around the edges of the Visa platform, creating capabilities that retailers will be able to use to create new customer experiences.

In April alone, 11 million contactless payments took place – 30 percent of the total payments in the period. On top of that, 76 percent of consumers interact with a brand or product digitally before going into a store. If these interactions, both in and out of store can be tailored to consumers and the pain points of the traditional methods of paying can be made more invisible, retailers and consumers are in for a much better experience.

Kerr says that further down the track, but very much in the conceivable future, Visa wants to provision both payWave and token technology into wearables and cars. 

​ ​

This is a community discussion forum. Comment is free but please respect our rules:

  1. Don’t be abusive or use sweary type words
  2. Don’t break the law: libel, slander and defamatory comments are forbidden
  3. Don’t resort to name-calling, mean-spiritedness, or slagging off
  4. Don’t pretend to be someone else.

If we find you doing these things, your comments will be edited without recourse and you may be asked to go away and reconsider your actions.
We respect the right to free speech and anonymous comments. Don’t abuse the privilege.

 

Direct sales: How multi-level marketing works

  • News
  • April 18, 2019
  • Sarah Dunn
Direct sales: How multi-level marketing works

The $200 million-plus direct sales economy contains many lessons retailers can use. As part of a wider look at this thriving corner of retail, we created a quick explainer showing how this business model typically works.

Read more
 
 

Direct sales: Meet the upliners

  • News
  • April 18, 2019
  • Sarah Dunn
Direct sales: Meet the upliners

We profiled different participants in the direct sales industry to find out what retailers can learn from them. Meet Isagenix distributors Adam Nesbitt and Bianca Bathurst.

Read more
 
 

Direct sales: Meet the business builder

  • News
  • April 18, 2019
  • Sarah Dunn
Direct sales: Meet the business builder

As part of a wider story looking at what retailers can learn from the direct sales industry, we profiled Isagenix distributor Ben Frost.

Read more
 

Social scoreboard

Zavy and The Register have worked together to create a scoreboard that compares how the top 25 traditional media advertising spenders in New Zealand have performed on social media over the past 30 days, updated in real time.

 
topics
Concept to closet
Business coverage of New Zealand Fashion Week.
Town centres
A positive retail environment over the past 12 ...
Amazon Arrival
Keeping up with all things Amazon as it ...
The Retail Yearbook 2017
As we battle our way through the busiest ...
Hospitality enhancing retail
Some think food and integrated hospitality offerings will ...
The future is bright
We spoke with four retailers in their twenties ...
Spotlight on signage
At first glance, the humble in-store sign might ...
Red Awards 2016
The Red Awards for retail interior design celebrate ...
Auckland Unitary Plan
Auckland is changing. The Unitary Plan will decide ...
How to open a store
Sarah Dunn considers what it would take to ...
All things to all people
Kiwi retailers share their omnichannel strategies.
Rising stars
Retail's top young achievers.
Delivering on your promises
The sale isn't over until your item is ...
Retail in heartland New Zealand
Retailers keep the regions pumping, but how strong ...
Sisterhood
Women in retail help one another. We spoke ...
The changing face of retail
Shifting demographics are creating big changes in New ...
The retail yearbook
With the help of experts in the retail ...
Retail rogues
We put the spotlight on staff training. Jai ...
Here come the giants
Topshop has arrived in Auckland’s CBD, David Jones ...
Window shopping: A spotlight on social media
Sarah Dunn and Elly Strang look at how ...
From retail to e-tail
Ecommerce has become part of the way mainstream ...
Loyalty in the digital age
How are retailers maintaining loyalty? Sarah Dunn, Elly ...
The Innovators | In partnership with Spark Business
Technology is rapidly changing the retail industry as ...
 
News

Leveling up: Exploring multi-level marketing in New Zealand

Is the $200 million-plus direct sales economy retail by another name or something different? Regardless, what can we learn from it?

 
 

A spectrum of retailers

  • Opinion
  • April 18, 2019
  • David Farrell
A spectrum of retailers

In recognition of April being Autism Awareness Month, retail commentator Dave Farrell considers the role of those on the spectrum in retail.

Read more
 

How on-trend is your retail business?

  • Sponsored Content
  • April 18, 2019
  • Sponsored content
How on-trend is your retail business?

New insights from Visa highlight five evolving trends emerging from savvy retailers around the world. We’ve taken these global trends and looked at how they are playing out with merchants in New Zealand, and we’d now like to hear what you think of them.

Read more
 
Next page
Results for
Topics
Jobs
About us.

The Register provides essential industry news and intelligence, updated daily. And the digital newsletter delivers the latest news to your inbox twice a week — for free!

©2009–2015 Tangible Media. All rights reserved.
Use of this site constitutes acceptance of our Privacy policy.

Advertise
The Register

editor@theregister.co.nz

Content marketing/advertising? Email anita.hayhoe@icg.co.nz or call 022 639 3004

View Media Kit

}