Visa opens its technology to developers
Visa is opening up its payments technology to the developer community in a move aimed at allowing banks, retailers and technology companies to develop applications more quickly.Visa has launched Visa Developer, which provides access to some of the company's technologies and services, including its account holder identification system, person-to-person payment capabilities, secure services such as Visa Checkout, currency conversion and transaction alerts.Visa said in a statement that it would provide access to more of its technology over the coming year as it transforms more of its products into application program interfaces.Visa chief executive Charlie Scharf said the company wanted to support clients and industry partners in their pursuit of new, easier and more secure ways to pay.A number of technology companies and financial institutions, including National Australia Bank, have been involved in a trial of the new service and some have already developed applications.A Visa spokesperson said Visa Developer would be available in Australia and New Zealand at the same time it was released elsewhere.Any development under the program would have to meet commercial terms and conditions and go through a process of certification."As we develop new ways to pay with connected devices and applications, we must guard carefully both the security of our own network and company and the security of the broader payments ecosystem," Visa said.