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Visa Next platform for digital payment products

07.05.2019

Visa has introduced a new platform with a set of beta versions of APIs, specifications and development tools for issuing banks and their processing centers. The capabilities of the platform will allow the creation and beta testing of new payment products created for consumers actively using digital technologies. The company's customers and partners will be able to access the Visa Next platform and use new solutions from the Visa product line.

The first set of beta APIs will help Visa customers and partners create new ways to use and control funds digitally.

Available beta versions of the API will have the following functionality. Creation of new digital maps on demand. The ability to add new or existing cards to the platform to create solutions that integrate multiple Visa digital services. Instant activation and tokenization of digital accounts for online payments and mobile wallets. Connecting functionality on the consumer's mobile device for contactless or QR payments using tokens.

Providing customers with enhanced real-time transactional data or authorization solutions, as well as notifications of completed purchases for the cardholder.

Setting up rules/restrictions for using digital cards: enabling/disabling transaction control at any time, setting dynamic transactions or spending limits, controlling transactions by purchase channel or by geography, controlling transactions by merchant type.

Issue additional cards to digital cards and control access to funds in real time, set up independent management of funds for shared digital cards.

Many consumers in Asia, for example, use an app-rich e-wallet that is only accepted within their countries. Through the platform, Visa partners can enable their customers to transfer funds from their wallet to a Visa digital card using their mobile device and transact in more than 200 countries and territories at 53,9 million Visa-accepting merchants. The platform's capabilities will also enable customization of card management, swipe payment, and transaction notifications for consumers.

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Random news from the Archive

Night milk is healing 04.07.2005

Finnish dairy farms are producing a new product: night milk.

It turns out that if you milk a cow at night or in the morning, but in a darkened room, the milk contains 10 times more melatonin, the sleep hormone, than in ordinary morning, afternoon or evening milk. Melatonin is also produced in the human body, but with age and under the influence of stress, its secretion is greatly reduced. Therefore, drinking a glass or two of nightly milk before bed is recommended for all older people and those who find it difficult to fall asleep.

The novelty is in great demand in Finland. Hundreds of farms have switched to night milking, especially since the new sort of milk is noticeably more expensive than usual. In addition, physiologists have found that night milking increases the fertility of cows.

But in Switzerland, where a farmer tried to take advantage of the Finnish experience, night milk was banned shortly after it appeared on store shelves. The reason is the strict Swiss laws on food, drugs and dietary supplements. A food product cannot be claimed as a remedy for disease or a means of preventing them, and even a mild form of insomnia is considered a disease by law.

High levels of melatonin should not be reported on milk bottles, as melatonin is a hormone, hence a drug. Perhaps later in Switzerland they will be allowed to sell night milk in pharmacies.

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