Visa: Apple Pay will pave the way for more mobile wallets that people can actually use

Gigaom

Visa EVP of Technology Rajat Taneja gets understandably excited when you mention Apple Pay.

That makes sense given that Visa – along with American Express, MasterCard – is one of the key partners in Apple’s new smartphone payments ecosystem, but Visa is a partner in Isis/Softcard and Google Wallet as well. What gets Tenaja really worked up is that Apple Pay could become a blueprint for all sorts of other mobile payments services worldwide.

[company]Apple[/company] Pay is the first mobile wallet to use a new financial-industry backed standard based on the tokenization of the credit card, and according to Taneja it could become the precursor of any number of new mobile wallets and digital payments solutions embedded in smartphones, applications and even web browsers.

Apple CEO Tim Cook introduces Apple Pay.  (Photo by Justin Sullivan/Getty Images) Apple CEO Tim Cook introduces Apple Pay. (Photo by Justin Sullivan/Getty Images)

Apple isn’t trying an end-run around the financial industry, and it isn’t introducing…

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