Visa Europe has announced the
launch of its mobile person-to-person payment and alert
servicesfor its member banks,
that will be activated October onwards. The services have been
developed in association with UK-based mobile payments
technology company Monitise.

Once operational, any Visa cardholder will be
able to transfer funds to registered users in Europe from their
mobile phone through the new P2P payments system.

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At launch, Visa mobile P2P payments will be
available through an android application and will support transfers
in a single currency for Visa and V PAY cardholders within Europe.
Support for other mobile operating systems, multiple currencies,
and payments to and within non-European countries are being planned
to be added over the following months.

The app will enable sending money to a mobile
phone number, an address book contact, or a specific Visa card
number – whether or not the recipient is registered with the new
service.

The alerts are aimed at being an easy and
instant way to view transactions at home or abroad, record payments
without needing to keep every paper receipts, safeguard against
fraud.

The alerts system is meant to notify
registered cardholders on a real-time basis whenever their card has
been used to make a purchase or withdraw cash through the new Visa
Europe payment network.

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CEO of Visa Europe, Peter Ayliffe, said, “The
way we pay is changing, driven by the rapid uptake of new
technologies and growing consumer demand for more flexible
payments.

“We are already seeing early adoption of
mobile payments, and in the coming months we will see the arrival
of mainstream NFC technologies, advanced loyalty and e-commerce
services, and ultimately, the launch of a new digital wallet.”

Monitise group chief executive Al Lukies said
the launch is “a strong indication of where mobile money is
headed”.

Visa Europe
signed a deal with Monitise – in which Visa holds a minority
stake – in February 2011 to develop a range of services for banks
mobile P2P payments.

 

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