Visa extended its Visa Ready programme to include the Internet of Things (IoT) market, meaning that vendors of a variety of devices including wearables, vehicles, consumer appliances and clothing will be able to embed payments capability in their products.
IoT firms will join mobile device manufacturers who have signed up to Visa’s programme. Visa Ready partners have access to industry best practice, tools and resources, as well as Visa’s Digital Enablement Program which includes streamlined access to the card network’s tokenisation service.
The first IoT firms to join the programme will focus on payments for wearables and automobiles, Visa said. Initial Visa Ready partners include Accenture, Coin, Giesecke & Devrient, Fit Pay, and Samsung, who will work with device manufacturers including Chronos and Pebble, to help embed secure payments in consumer devices and then have those devices certified as Visa Ready.
“More and more, consumers are relying on smart appliances and connected devices to make their lives easier,” said Jim McCarthy, executive vice president of innovation and strategic partnerships at Visa.
“By adding payments to these devices, we are turning virtually any Internet connection into a commerce experience – making secure payments seamless, and ultimately more accessible, to merchants and consumers.”