Visa announced the pilot program for a new platform, Visa Acceptance Cloud (VAC), set to revolutionize the way businesses accept payments from their customers. After the success of technology “Tap to Phone“, VAC will enable acquirers, payment service providers, POS manufacturers and IoT operators to transform payment processing software, which will no longer be embedded in every hardware device, but universally accessible from the cloud.
Visa announces the Visa Acceptance Cloud platform
Already active through pilot projects in six geographies, VAC will help innovators transform nearly all devices into a cloud-connected payment terminal, while offering continuous cloud software updates, in-depth analytics and Visa network services. Furthermore, since VAC operates on the data centers of Visais able to offer the best data security.
“Cloud acceptance is the future of payments,” he commented Mary Kay Bowman, senior vice president & global head of payment and platform products Visa. “Cloud-connected POS allows merchants to accept payments on a range of different devices quickly, easily and securely, whether it’s an unattended kiosk in a hotel, a smart mirror in a high-end store or in a virtual home gym, or a smartphone in the hands of a small shopkeeper in a newsstand on the side of the road. “
In January 2020, Visa revealed for the first time the potential and capabilities of “Tap to Phone”, an innovative solution for the sector that transforms smartphones and tablets Android new generation in terminals POS contactless. Tap to Phone was Visa’s first solution that allows merchants to accept payments on devices they already own by simply downloading an app. As of December 2021, over 300,000 devices in 54 countries were already using Tap to Phone.
Expanding beyond phones, Visa Acceptance Cloud allows any POS or IoT device to accept payments seamlessly and can incorporate a number of additional services, including buy now, pay later, fraud management, Rapid Seller Onboarding and advanced data analysis. Ongoing pilot projects in North America, South America, Europe, Africa, Asia and Australia target a variety of use cases, including merchants and restaurants in Australia partnering with Visa through Bleu, a U.S.-based fintech, beyond the smart mirror of NOBAL Technologies and public trains in Brazil.
“Bleu is working with Visa to offer agile payments to businesses across Australia for the first time,” he said. Sesie Bonsi, President and CEO of Bleu. “Since merchants can spend up to $ 1,000 on POS terminals, plus countless additional hours and costs associated with time-consuming certification processes, Visa Acceptance Cloud removes the barriers of traditional hardware and the burden of kernel certifications. linked to devices, making it easier for the independent merchants we support to offer touchless payment options to their customers through any connected device. “