Visa & Bitcoin's Blockchain to Turn Cars into Mobile Wallets
Many people dread the process of buying a car. Selecting the car itself can be fun, but the pressure to test drive, the forced banter with the sales rep, and the dreaded negotiation are major turn-offs to many. Visa is working to change that with a new app that can use advanced Bitcoin Blockchain technology to revolutionize the car buying process forever. This prototype app was announced at the Money 20/20 payment conference in Las Vegas yesterday and is being built in association with DocuSign Labs. Imagine if you walked into a car dealership, and already knew the car you wanted, the....
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It is no secret that Visa and Mastercard will do everything they can to keep a firm grip on the payments industry all over the world. Credit cards are one of the most often used payment methods, even though the medium is not all that secure. Visa’s new project, called Visa Checkout, is getting a lot of attention from established brands who focus on online and mobile commerce. When it comes to tackling the payment industry right now, businesses are exploring options in both the mobile and online world. Some countries, such as India, are seeing a major boom in mobile commerce, whereas the....
Visa Inc. is financing a team of engineers at its Bengaluru office to research further uses for the blockchain. Visa is looking to improve its payments processes, and it seems that the blockchain technology may hold the key for the Company’s future. A few months ago, Visa hired a former Google scientist, Min Wang, to lead the research teams from its San Francisco office, and Taneja in a project where they were to work on the blockchain. The company’s decision to start researching the blockchain technology comes right after banks and other financial institutions developed a sudden interest....
Mobile payment methods will replace cash and cards in UK by 2020, according to research by Visa Europe. The study, which was concluded upon the participation of 12,015 European consumers, predicted that the UK markets will stem a whopping £1.2 billion/week, with six in ten Britons expecting to use their mobile device for making payments by the aforementioned year. At present, only one in 12 people use mobile payment methods. "The UK mobile payments boom will see an upsurge in the weekly value spent using mobile devices, with the market growing to an estimated £1.2 billion per week by....
Visa is the world’s largest payment network and handles nearly 56,000 transaction messages a second. In August 2015, the company had announced the opening up of a new technology development centre in Bangalore, India. According to a press release made by Visa the aim of this development centre is to boost digital commerce globally. It has now been revealed that this centre will also focus on blockchain the technology behind Bitcoin. Visa chooses Blockchain. According to the Indian financial newspaper Mint a Top Visa executive has revealed that the company plans to use Blockchain technology....
Swiss banking giant UBS bank has partnered with German energy company Innogy and automobile manufacturing company ZF to provide a blockchain-backed Car eWallet that enables charging of electric cars. Due to be showcased at CES in Las Vegas, the Car eWallet can also be used for other payment related services such as parking fees, car sharing or road tolls by paying on-the-go, reports the International Business Times. In a UBS statement, it said: With the Internet of Things we will see in the future more and more devices enabled to autonomously pay for services. For UBS it is important to....