Visa Reimagines Payment Acceptance for the ‘Click-and-Mortar' Era

SAN FRANCISCO--(BUSINESS WIRE)--With a new fast-growing segment of ‘Click-and-Mortar™, shoppers who rely on digital features to shop both online and in-store1, merchants are managing complex technology as they work to provide consistent payment experiences. Visa (NYSE: V), a global leader in digital payments, is offering sellers expansive, simplified services to keep pace with those demands.

“The payments sector has made significant strides in simplifying the consumer shopping experience. In doing so, the payments ecosystem has become more complex and fragmented for sellers -- but it doesn’t have to be this way,” said Rob Cameron, Global Head of Acceptance Solutions, Visa. “Visa Acceptance Solutions allows businesses worldwide to offer their customers best-in-class payment options without over-indexing on complexity for themselves.”

Visa’s latest enhancements support merchants of all sizes with new and improved commerce experiences including:

• Improved access to and ease of integration with partners: Visa Acceptance Platform is debuting Developer Assist, an AI-powered tool to help partners develop sophisticated payment flows, answer questions on testing and certification and even suggest sample code. The platform, which is used by more than 450 payment service providers (PSPs), connects to over 100 independent software vendors (ISVs), bringing ease of use to over 450,000 active merchants each month across 160 countries using 50 different currencies2.
• A reimagined small and medium-sized (SMB) business platform: Authorize.net has reimagined its user interface (UI), bringing data and streamlined day-to-day business operations to the forefront. The new UI has benefits for both partners and merchants across new dashboards, workspaces and smart search functionalities.
• Growing mobile acceptance, without additional hardware: Tap to Phone, which allows sellers to accept contactless payments using a certified smartphone, is now live in 121 countries with more than 6.7 million active terminals and more than $8.5 billion in payment volume on a 12-month basis3. Visa is also deploying contactless technology from Tap to Phone in new innovative ways, including the recent pilot in Latin America and the Caribbean that allows consumers to tap their cards to their own device in order to pay for online purchases.

“The past few years have had a profound and lasting impact on the commerce strategies for merchants of every shape and size. Consumers desire immediacy and increasingly expect digitally evolved experiences. To keep pace with this trend, merchants are now looking for partners to help them simplify their ability to maintain connectivity to the ecosystem,” said Jordan McKee, Research Director at S&P Global Market Intelligence 451 Research.

One Expansive Ecosystem to Open Possibilities for Connectivity

Visa Acceptance Solutions offers a level of connectivity and flexibility that businesses can’t build on their own without heavy technology investment, underscoring the importance of integrating digital and physical retail. As a part of Visa’s value-added services, cloud-ready solutions like the Visa Acceptance Platform and Visa’s Tap to Phone payment solution have helped clients scale their businesses and tailor their payment systems to meet consumer needs.

To learn more, visit Visa Acceptance Solutions.

About Visa

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.

This Press Release is intended for illustrative purposes only. It contains depictions of a product currently in the process of deployment and should be understood as a representation of the potential features of the fully deployed product. The final version of this product may not contain all of the features described in this presentation.

This Press Release may contain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that relate to, among other things, our future prospects, developments, strategies, and business growth. All statements other than statements of historical fact could be forward-looking statements, which speak only as of the date they are made, are not guarantees of future performance and are subject to certain risks, uncertainties, and other factors, many of which are beyond our control and are difficult to predict. Except as required by law, we do not intend to update or revise any forward-looking statements as a result of new information, future events or otherwise.

1 2024 Global Digital Shopping Index, PYMNTS and Visa Acceptance Solutions

All brand names, logos and/or trademarks are the property of their respective owners, are used for identification purposes only, and do not necessarily imply product endorsement or affiliation with Visa.

2 As of March 2024
3 As of March 2024

Contacts

Emily Scheer
escheer@visa.com