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 isn’t trying an end-run around the financial industry, and it isn’t introducing…
View original post 515 more words