Visa Inc., a global leader in payments, has announced it is supporting consumer payments with the new iPhone 6 and other Apple devices.
Thanks to a new capability called Visa Token Service, participating financial institutions in the United States and eventually abroad, will be able to add Visa debit and credit cards to Apple Pay — Apple’s new payment service — and enable their customers to make easy and secure purchases at select US merchants both in stores and in apps.
Visa Token Service technology works by replacing sensitive payment account information found on plastic cards with a digital account number or token that can be safely stored on mobile devices and used for in store and in app purchases.
Visa will roll out the service to financial institutions in phases — initially supporting early participants in the Apple Pay launch — and then extending the service availability to all of its US clients.
“Combining the trust, scale and security of Visa payments with Apple Pay will accelerate adoption of mobile payments,” said Charlie Scharf, CEO, Visa Inc.
“We said from the beginning that token services would provide great new consumer and merchant experiences, and you’re seeing it today in our efforts with Apple, and there’s more to come,” he added.
Apple Pay allows making purchases in some of the most highly visited stores and within apps on the App Store with just the touch of a finger, using the new iPhone 6 and other Apple devices. Visa account holders will continue to receive all of the rewards, benefits and security offered by Visa credit and debit cards.
“The combination of new digital experiences from Apple with new network capabilities from Visa provides for great payment experiences and enhanced security for millions of Visa account holders, merchants and financial institutions,” said Scharf.
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Visa, Apple open new payment era on mobile devices



