In an effort to give consumers more control of their various accounts, Visa is now launching a new suite of mobile services for financial institutions to offer their customers.
Visa, the world's largest processor of debit and credit card payments, recently announced significant upgrades to its Visa DPS mobile processing platform so it will now work with any mobile device, allowing users to better handle their accounts. In addition, the company also announced plans to expand the service further in the future, potentially to everything from mobile check deposit to mobile near-field communications payments.
"The services offered by Visa DPS are a one-stop solution for Visa clients who want to serve their customers through the mobile channel without making significant investments in hardware, software or mobile expertise," said John Partridge, president of Visa.
Mobile payments are expected to be far more secure than the current system of simply swiping a card to complete a purchase because of the way account data is stored. However, consumers should also take the time to order a copy of their credit report to better protect their finances, and work with a credit repair company to ensure that their records have been reported fairly and accurately.