More than 40 financial institutions, including Affinity Federal
Credit Union, PNC Bank and Webster Bank to launch innovative mobile
commerce apps developed by Visa
SAN FRANCISCO--(BUSINESS WIRE)--Jun. 7, 2016--
Today, Visa Inc. (NYSE:V) introduced the Visa Digital Commerce App, an
issuer-branded mobile commerce solution that enables financial
institutions to offer their own mobile app to customers with valuable
card management services – ultimately expanding and strengthening their
Visa credit, debit and prepaid card offerings.
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Through the mobile app, issuers can offer services such as real-time
account balance information, card controls, alerts that inform
accountholders about recent transactions or fraud concerns, and
innovative token services that bring greater security to contactless
payments1. As a hosted service, the app simplifies the
delivery of a broad array of card management features and provides a
roadmap for issuers to rapidly deploy new features and enhancements.
“The Visa Digital Commerce App brings together a comprehensive set of
services to empower financial institution clients of all sizes to
quickly offer their own digital payment experience to cardholders, while
keeping their brand and relationship with the cardholder front and
center,” said Oliver Jenkyn, group executive, North America, Visa Inc.
“We are getting great feedback from clients who are implementing the app
and are excited to make it available to more financial institutions
With the introduction of Visa
Token Service and the recently launched Visa
Developer Platform, Visa is helping to lead the transformation of
payments from plastic to digital. The Visa Digital Commerce App is
another important advancement in this evolution to provide issuers with
additional deployment flexibility to better support their mobile
strategies and capabilities.
“As consumer awareness of mobile wallets has grown, financial
institutions are increasingly looking to stake a claim in this market
and capture the preferred ‘top-of-wallet’ position with their
customers,” said Daniel Van Dyke, analyst, Javelin Strategy & Research.
“In our 2016 report, ‘What’s In Your Mobile Wallet?’, consumers stated
they would be 51 percent more likely to use a wallet offered by their
primary financial institution, making this an ideal time for banks and
credit unions to introduce a branded digital app and capitalize on this
Financial Institutions Rapidly Deploying Visa Digital Commerce App
Today more than 40 U.S. financial institutions are implementing the Visa
Digital Commerce App. This includes institutions such as A+ Federal
Credit Union, Affinity Federal Credit Union, Capital Prepaid Services,
EPS Financial LLC, First Financial Bank, N.A., GESA Credit Union, ITA
Group, KCT Credit Union, Kern Schools FCU, Landings Credit Union,
Members 1st Federal Credit Union, Member Access Pacific, Old
National Bank, Our Community Credit Union, PNC Bank, Publix Employees
Federal Credit Union, Utah Community Federal Credit Union, Webster Bank,
and many others. In addition to making the Visa Digital Commerce App
directly available to financial institutions, Visa is also offering the
app to its processor and go-to-market channel partners for their
financial institution customers.
“Partnering with Visa to enhance our digital payments capabilities has
been a no-brainer,” said John Weeks, senior vice president of payments,
Webster Bank. “It is simply the latest example of our shared commitment
to provide Webster customers with the technology that allows them to
manage and use their payment cards whenever and wherever they prefer.
This new solution reduces friction during a transaction without
sacrificing security – something our customers want and need.”
“By using the Visa Digital Commerce App, we are able to quickly deliver
a robust and highly intuitive mobile app to our members that allows them
to manage and use their cards on their terms,” said John Fenton,
president and CEO, Affinity Federal Credit Union. “This new solution,
which we are calling the Affinity Card App, meets the needs of today’s
consumers – making it faster, easier and more convenient to bank with
us. We are already experiencing higher usage rates from our members who
transact in our digital space.”
"When we initially launched SmartAccess, our prepaid reloadable product,
we faced a ’build-or-buy’ decision for a mobile app,” said Zulfiqar
Khan, senior vice president, group product manager, Checking and
Prepaid, PNC Bank. “Partnering with Visa allowed us to rapidly deploy a
very compelling stand-alone solution for our prepaid customers. The new
app from Visa will allow us to continue to meet the needs of our
customers in this continually shifting environment."
About Visa Inc.
Visa Inc. (NYSE:V) 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
electronic payments. We operate one of the world's most advanced
processing networks — VisaNet — that is capable of handling more than
65,000 transaction messages a second, with fraud protection for
consumers and assured 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, pay ahead of time
with prepaid or pay later with credit products. For more information,
1 NFC-enabled Android OS Smartphones
View source version on businesswire.com: http://www.businesswire.com/news/home/20160607005712/en/
Source: Visa Inc.
Aida Hadzibegovic, 415-805-4242