Today is an exciting day for VenueNext, as we announce our partnership with Visa Inc. to make paying at venues even more seamless with our platform!
So when you’re at a soccer game, hotel, hospital, concert, or whatever the event or venue is that employs the VenueNext platform, you’ll now be able to use Visa Checkout to pay for your purchases of food, drinks and other goods. We are one of the first to integrate this new open platform and will be doing so at a live event — the big game this Sunday. On a panel during a press conference in San Francisco this morning announcing the new platform, our CEO John Paul said we’re getting our feet wet right away with Visa Checkout, noting “there is no beta, we go straight to the biggest event on Earth.”
Payment methods are of growing importance to many consumers, who are starting to choose to ditch the plastic credit card in favor of mobile payments. In fact, a recent Accenture and CB Insights study, fintech investments reached more than $12 billion globally in 2014. A December 2015 study from Gartner Inc. stated that 50% of consumers in mature markets will use smartphone or wearables for mobile payments by 2018.
The San Francisco Bay Area-headquartered payments giant also announced today it is transforming the world’s largest retail payments network to an open platform called Visa Developer by sharing its APIs to help support driving innovation in payments and commerce.
This is the first time in Visa’s history (the company is almost 60 years old) that developers at merchants, financial institutions, technology companies and startups will have open access to Visa technology, products and services.
A big part of VenueNext’s mission is to transform venue experiences, and making payments seamless and frictionless for both the guest and the venue operator helps us achieve this. Integrating with Visa helps give fans more choices in how they pay with a more seamless user experience.
Others deploying the new open platform include Capital One, Emirates NBD, National Australia Bank (NAB), U.S. Bank and more.
Our integration with Visa was a very fast and easy — one of the quickest we’ve ever done — and we’re looking forward to doing more together in the mobile secure payments space!