Visa Working on Blockchain Tech in Innovation Labs
Leading global credit card processing firm Visa will soon begin researching bitcoin and blockchain technology, according to a new report. Speaking to LiveMint, the online division of India's second-largest newspaper, Visa executive vice president of technology Rajat Taneja indicated that the research will take place in the company's innovation labs, which are focused on improving its Visa Checkout and mVisa products. The announcement follows a period of indifference from the credit card giant, which has formerly stated it does not see the technology as a business threat, while....
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Credit card processing company Visa is exploring the usages of bitcoin and blockchain technology in payment applications. The company is conducting its research through its innovation labs, which are focused on improving the Visa Checkout and mVisa products. Prior to this, Visa has said that it doesn't see blockchain technology as a threat to its current operations but that the company might support bitcoin as a payment method. "India will soon have teams that will jointly work with our two research labs in US and Singapore in studying the many aspects of blockchain," said Visa executive....
Visa Europe has announced it is working on a proof-of-concept for a blockchain-based remittance service. Created through Visa Europe Collab, the trade organization's innovation initiative, the proof-of-concept is being built in collaboration with Epiphyte, an enterprise blockchain services firm that recently graduated from San Mateo incubator Boost VC. Though details on the proof-of-concept were limited, the companies said they are working in a "controlled test environment" that is seeking to simulate real-world remittance transactions. A press release by Visa Europe Collab indicated the....
The world’s largest payments network is expanding its new technology center in India to focus on blockchain technology development for its global endeavors. VISA is going gung-ho on the blockchain technology and is setting up the infrastructure and personnel to push blockchain development, out of a development center in Bangalore, India. The payments giant had 400 engineers at the technology innovation lab at the time of launch in August 2015. At the time, Rajat Taneja, executive vice president for Technology at VISA revealed that the Indian center will jointly work with existing research....
Ripple Labs has created a lot of interest in blockchain technology with its Interledger Protocol (ILP), including from Apple and Google, according to the International Business Times. The ILP could be bringing the technology to more widespread use. Ripple serves as co-chair of W3C’s Web Payments Working Group, putting the company in regular contact with technology providers. Stefan Thomas, Ripple’s chief technology officer, said Apple, Google, Mozilla and other players are seeking a better user experience for web payments, considering the issues they face relying on card networks. Tech....
Visa CEO Al Kelly anticipates that cryptocurrency could become “extremely mainstream” within five years. He is working to position Visa in the middle of it should cryptocurrency take off. He further confirmed that Visa is working to allow bitcoin purchases, in addition to enabling the cryptocurrency to be used at 70 million stores where Visa is accepted. Visa Anticipates Crypto Going ‘Extremely Mainstream’ In the Leadership Next podcast with Alan Murray and Ellen McGirt published Tuesday, Visa CEO Al Kelly talked about bitcoin and his company’s cryptocurrency....