Visa has revealed plans to expand its Visa Ready program to include Internet of Things (IoT) companies, such as manufacturers of wearables, automobiles, appliances, public transportation services, and clothing.
At Mobile World Congress in Barcelona, the credit company said emerging IoT companies will join mobile device manufacturers, including mobile point-of-sale acceptance (mPOS) providers, mobile NFC-enabled device manufacturers and other technology partners in the Visa Ready Program.
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The Visa Ready Program gives companies one seamless path to integrate secure payments into their products and services. Its partners receive access to industry best practices, tools and resources, and Visa’s Digital Enablement Program (VDEP), which includes streamlined access to Visa Token Service (VTS).
Coin, Fit Pay, and Samsung are among the first IoT firms to join the program. They will work with device manufacturers including Chronos and Pebble, to embed secure payments in consumer devices.
Visa executive vice president of innovation and strategic partnerships Jim McCarthy said: "By adding payments to these devices, we are turning virtually any Internet connection into a commerce experience – making secure payments seamless, and ultimately more accessible, to merchants and consumers."
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