London, 28 May 2015
“This is another example of why we say that 2015 is the year mobile payments will at last become a commercial reality” – Jeremy Nicholds, Visa Europe
Visa Inc on Thursday confirmed that it has partnered with Google through the new Android Pay platform, opening up new secure Visa payment options to financial institutions and merchants around the world working within the Android eco-system. Android Pay’s secure APIs will build on Google’s existing Host Card Emulation (HCE) functionality and utilises Visa’s Payment Token Service to create an exciting array of new options for contactless in-store payments as well as a seamless in-app payment option for Visa cardholders to shop through their Android Device.
Jeremy Nicholds, Executive Director of Mobile at Visa Europe, commented: “Today’s announcement is another example of why we are saying that 2015 is the year mobile payments are set to become truly mainstream for consumers. Visa Europe is delighted at the prospect of working alongside Google to open up the Android Pay platform when it comes to European Visa cardholders, giving them exciting new options to make payments with their favourite Visa card powered by our secure technologies such as Visa payWave and our new Payment Token Service.”
About Visa Europe
Visa Europe is a payments technology business owned and operated by member banks and other payment service providers from 37 countries. It is the leading payments system in Europe, having increased its market share over MasterCard in Europe from 55.5% in 2011 to 56.9% in 2013.
Visa Europe is at the heart of the payments ecosystem providing the services and infrastructure to enable millions of European consumers, businesses and governments to make electronic payments. Its members are responsible for issuing cards, signing up retailers and deciding cardholder and retailer fees. Visa Europe is also the largest transaction processor in Europe, responsible for processing more than 16 billion transactions annually – at a rate of 1,622 transactions per second at peak times.
There are more than 500m Visa cards in Europe, while €1 in every €6 spent in Europe is on a Visa card. Total expenditure on Visa cards exceeds €2 trillion annually, with €1.5 trillion spent at point-of-sale.
Since 2004, Visa Europe has been independent of Visa Inc. and incorporated in the UK, with an exclusive, irrevocable and perpetual licence in Europe. Both companies work in partnership to enable global Visa payments in more than 200 countries and territories.
For more information, visit www.visaeurope.com and @VisaEuropeNews.