How The New Visa Updates May Affect You

Author: Artem Hihach

Visa is one of the largest payment systems that facilitate electronic money transfers all over the world. Visa is a giant in credit, debit, and prepaid card payment processing.  Today, we’ll discuss their latest updates and technical advances. 

New Apple Cash Accounts Now Branded as Visa

It seems Apple has ditched the Discover Network and decided to work with Visa. Apple Pay Cash is known to be on the Discover Network which is in collaboration with Green Dot Bank. 

Discover is a small card network that is accepted in few places compared to Visa and Mastercard.

Recently, Apple rebranded the Cash Card graphics on their website with Visa designs. The Apple Card was operating under the Discover Network before this development.

What is Apple Cash Card

Apple Cash is a debit card that allows users to send and receive money using Apple Pay and Messaging application.

Now that the Apple Card is under the Visa network, they may be planning to go global with the payment service.

How to Switch your Apple Discover Cash Card to Visa

Transfer any existing money from your wallet to your bank account, then go to Settings> Wallet and switch off Apple Cash at the top. After that, turn it back on and enter your password. 

Currencycloud Service Integration

Visa recently acquired Currencycloud which is a tech solution company established to deliver multi-currency services flexibly, using integrated solutions. Currencycloud allows banks, fintech companies, and forex brokers to efficiently integrate its API into their existing programs to offer multi-currency wallets to their users.

Currencycloud offers multi-currency accounts on a single platform to give users total access to their international transactions without any hassle. With Visa acquiring this platform, new and existing users should expect great features and upgrades such as attractive rates and multi-accounts on the Visa network. You can visit currencycloud to learn more about their services. 

Visa Tap to Phone Function

Visa Tap to Pay is a revolutionary feature created to aid the e-commerce industry with swift and comfortable payment processing. The system allows users to make payments without entering their card numbers, look up passwords, or filling out long forms.

Traditional payment acceptance is one of the problems small and micro enterprises are struggling with. Fortunately, just launched a system that allows merchants to use their phones to accept payments. 

This feature turns a regular smartphone into a payment terminal. With this immense upgrade, you can make purchases and pay contactless. 

How Visa Tap-to-Phone Feature Works?

• Look for the Contactless Symbol on your checkout terminal.
• When prompted, move your card or wearable a few inches to the Contactless Symbol on the checkout terminal
• Depending on the interface, you may need to tap on, above, or below the screen.
• Your payment will be processed in seconds and you are good to go!

Conclusion

Visa payment system is one of the best in the world, and they don’t seem to be stepping down. To improve customer experience and make payment processing simpler, Visa introduced new features such as click-to-pay, contactless payment option, multi-currency wallet and an upgrade to their Apple Cash Card.