Visa Launch Visa Smart Program

Saturday 22 November 2003 18:21 CET | News

Visa International has launched Visa Smart, a comprehensive program that enables members and merchants to swiftly, securely, and simply migrate to EMV chip.

Visa smart cards and acceptance devices are already gaining significant momentum worldwide with 28 countries now processing Visa EMV chip payments. Visa Smart is built on four key pillars that reflect Visas commitment to provide unique value to its members. These include: - Developing open standards and specifications that deliver freedom and choice to members. Recent initiatives include Visa Smart Secure Storage, a specification that simplifies how value-added services are managed on microchips. - Facilitating building a chip infrastructure through partnerships with leading industry smart card, terminal, personalization and other chip support vendors. Visa programs developed in this area include the Visa Smart Breakthrough initiative and the Visa Smart Global Partner program. - Utilizing Visa?s internal technical expertise to develop platforms and solutions that enable Visa members to deliver a wealth of value-added products to their customers, such as the Visa Small Ticket and Offline solutions. - Providing the services and support globally and locally to facilitate the market adoption of EMV chip via project management, documentation and educational seminars. In every region of the world, Visa members are implementing EMV chip programs, opening new markets and customer segments with more secure and flexible payment products. Notable milestones include: - By the end of 2003, the number of Visa EMV chip cards issued is estimated to reach 100 million, a more than 50 percent increase over 2002. - More than 40,000 smart card acceptance devices have been sold through the Visa Smart Breakthrough Acceptance Device Program. - Nearly two million terminals are expected to be capable of accepting EMV chip cards by the end of 2003.

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Categories: Payments & Commerce | Cards
Countries: World
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