Visa announced a new platform, Visa Acceptance Cloud (VAC), which will revolutionize the way businesses accept payments from their customers.
Following the success of Visa’s popular “Tap to Phone” solution, VAC will enable acquirers, payment service providers, point-of-sale manufacturers and representatives of the Internet of Things.
In addition, to move the software of payment processing so that it goes from being integrated in each hardware device to being universally accessible in the cloud.
Read more: OrdersNow and Visa facilitate digital payments
VAC, a platform already in operation in six geographies, will help innovators transform almost any device into a payment terminal connected to the Internet. cloud, while offering cloud-based software updates, robust analytics and network services from Visa.
Since VAC runs in Visa data centers, it will also offer industry-leading security of data.
“Cloud acceptance is the future of payments,” said Juan José Fernández, vice president of Merchant and Acquirer Solutions for Latin America and the Caribbean.
Details
“Cloud-connected POS enables sellers to accept payments across a range of devices quickly, easily and securely, whether it’s an unattended kiosk in a hotel, a mirror in a high-end retail store or in a virtual home gym, as well as on a smartphone in the hands of a small vendor who runs a roadside newsstand.”
In January 2020, Visa first showcased the power of “Tap to Phone,” an industry-first solution that transforms next-generation Android smartphones and tablets into contactless point-of-sale terminals.
“Tap to Phone” was the first product offered by Visa that allowed merchants to accept payments on the devices they already owned, simply by downloading an app. As of December 2021 there were more than 300,000 devices in 54 countries using “Tap to Phone”.
Expanding beyond phones, Visa Acceptance Cloud enables any point of sale or connected device to accept payments seamlessly and incorporates a number of added services, such as buy now pay later, fraud management, Fast Vendor Integration Y advanced data analytics.
Plus
Ongoing pilot projects in North America, South America, Europe, Africa, Asia and Australia cater to a variety of use cases, including for example retail and restaurants in Australia through Visa’s work with Bleu, a US-based fintech, the mirror smart NOBAL Technologies and public trains in Brazil.
“VAC is a universal platform that helps open up acceptance for all, enabling our leading technology partners to innovate.”
“At one end of the spectrum, cloud acceptance helps drive the inclusion of more small vendors who want to offer digital payments.”
at the other end, Visa Acceptance Cloud enables advanced shopping experiences that will be critical to the future of retail for businesses of all shapes and sizes,” Fernandez continued.
“Moving acceptance to the cloud opens up the possibility of a lot of innovation by the entire payments ecosystem. This is just the beginning”.
For more information on VAC, visit our website or contact via [email protected].
About Visa
Visa (NYSE: V) is a global leader in digital payments, facilitating more than 215 billion payment transactions between consumers, merchants, financial institutions and government entities in more than 200 countries and territories each year.
Our mission is to connect the world with the most innovative, convenient, reliable, and secure payment network to help individuals, businesses, and economies thrive.
We believe that inclusive economies power everyone, everywhere and see access as critical to the future of moving money. Learn more at Visa.com.
