Visa opens Bangalore Technology Center and Launches mVisa

Global payments technology company Visa is stepping up its efforts to accelerate global digital commerce with the opening of a new technology development center in India and the launch of a new mobile payment service called mVisa.

Located within the 70-acre Bagamne World Technology Center in Bangalore, Visa’s new 100,000 sq ft technology development center is just one of the many facilities planned by the company in Asia and the US.

The opening of the center is also part of Visa’s strategy to transform its global processing network into an open commerce platform.

A combination of office and collaboration spaces, the technology center will house 1,000 developers who will work together to make it easy for application developers to access Visa’s 400 payment products and services.

Charlie Scharf, chief executive officer of Visa Inc, commented, “India has fast become one of the world’s most important technology epicentres with an incredible pool of technology talent. Our new center in Bangalore, which complements others planned for Singapore and the U.S., will help Visa to accelerate the development of next generation payment solutions that enable secure, digital commerce through connected devices like mobile phones, PCs, tablets and even cars.”

Meanwhile, Visa is bringing secure digital commerce to merchants, financial institutions and consumers in emerging markets through mVisa.

This new payment service will allow consumers to easily make cardless purchases, send money to friends and family members and pay their bills.

Consumers just have to download the mVisa application and link their Visa debit, credit or prepaid account.

Testing of mVisa will kick off later this year with 20,000 merchants across the greater Bangalore region and select customers of SBI, ICICI Bank, HDFC Bank and Axis Bank.

The launch of mVisa is in line with Visa’s efforts to speed up global migration from cash to digital commerce.