Visa has launched the Visa Developer network, which aims to lure software developers into an open platform with access to payments technology, products and services.
The payments giant is providing a platform for innovation in global commerce with a view to aid financial institutions, merchants, and technology companies in meeting the requirements consumers and merchants who are now relying a lot on connected devices to shop, pay and get paid.
Immediately after the launch, Visa Developer will provide access to the company’s well-known payment technologies and services including account holder identification, person-to-person payment capabilities, secure in-store and online payment services such as Visa Checkout, currency conversion and consumer transaction alerts. Visa will then work on opening up more of its payment capabilities over the next 12 months.
Visa chief executive officer, Charlie Scharf, said: “As the leader in payments we have an opportunity to transform global commerce by opening-up access to our global network and supporting our clients, industry partners and innovators in their pursuit of creating new, easier and more secure ways to pay. Visa Developer represents not only a new access point to our network, but a new distribution platform for Visa products and services globally.”
Many prestigious financial institutions, technology companies, and startups have undertaken beta trials of the new Visa Developer platform over the past few months, and many have already developed innovative prototype applications using Visa technology. Trial partners include Capital One, CIBC, Emirates NBD, National Australia Bank (NAB), RBC, TD Bank, Scotiabank, TSYS, U.S. Bank and VenueNext. An Accenture study found that FinTech investments reached more than $12 billion (£8.3 billion) worldwide in 2014.
Visa’s global developer program provides worldwide accessibility at a portal, providing a comfortable way to browse the company’s large range of payment products and services. Developers will gain access to hundreds of Visa APIs and software development kits for some of the company’s well-known payment products and capabilities. Application developers benefit from a testing sandbox, which offers a plug and play experience, along with access to Visa test data.
The program also provides Visa Developer engagement centres that are designed to nurture collaboration and co-creation with application developers in key markets like San Francisco, Dubai, Singapore, Miami and Sao Paulo.