Visa and Nest Bank have announced the launch of a pilot service called Visa Mobile. According to the creators of the solution, it is a completely new way of paying by card on the Internet. Visa Mobile service was developed in cooperation with Visa Innovation Studio. After the successful pilot all Nest Bank clients will have access to it, which should happen at the beginning of next year at the latest. Visa hopes that the service using the advantages of SRC (Secure Remot Commerce standard developed under the auspices of the EMV organisation) will be successful in Poland and soon it will appear on other markets.
To use Visa Mobile you need to have a mobile application. It can be an app prepared by Visa, or a bank app, as in the pilot organised together with Nest. You also need to have an active Visa payment card, which should be added to the Visa Mobile service just by using the application. Then, all you have to do is to select Visa Mobile as the payment method in the online shop and enter your mobile number. The application will display information about the payment, which must be accepted with the mobile password. Visa declares that the whole process takes about 20 seconds.
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“Thanks to Visa Mobile, card payments on the Internet become even more similar in terms of convenience to card transactions in stationary shops, and they also remain safe. I believe that our solution has great potential for growth in other markets where we are present”, says Adrian Kurowski, Director of Visa in Poland.
Karolina Mitraszewska from the Management Board of Nest Bank stresses security issues. “Visa Mobile not only shortens the time of payment, but above all is fully secure thanks to the use of tokenisation, i.e. the conversion of sensitive card data into a unique sequence of digits. This is Visa's response to the growing popularity of online shopping", said the Nest Bank representative.
As I mentioned above Visa Mobile leverages the advantages of the SRC standard. SRC compliant payment methods are intended to be simple for the customer to use and easy for providers to implement. The SRC standard is also expected to contribute to a lower rate of rejected payments and a reduction in fraudulent transactions. Importantly, Visa Mobile is a card payment, so the customer is entitled to chargeback if necessary. Visa Mobile payments were implemented by the Przelewy24 payment gateway operator. In the initial phase, they will be available in several dozen online shops, such as syropy-monin.pl, kapsulkakawy.pl, babynet.pl or polibudka.pl.
Looking at the Visa Mobile service in a broader context, it is hard not to get the impression that, from the consumer's point of view, it resembles a Blik payment. In both cases, the transaction is authorised in the bank's mobile application. The difference occurs only at the payment initiation stage. In the case of Blik payments, a code generated by the application is entered, in the case of Visa Mobile payments - the individual phone number to which the mobile application is connected.