Visa has opened its technology development center in Bangalore, India, to accelerate digital commerce initiatives globally.
The company also announced that mVisa, a new mobile payment service, will be tested this summer with merchants in Bangalore and with customers of Axis Bank, HDFC Bank, ICICI Bank and SBI.
mVisa enables consumers to make cardless purchases, pay bills and send money. From September, mVisa will be available to 20,000 merchants in Bangalore.
Visa’s new 100,000 square feet technology center, which is part of the Bagamne World Technology Center, a 70-acre campus, will be the home for 1,000 Visa developers. The company is adding 2,000 employees who will work in development centers in India, Singapore and the U.S. This center is one of several facilities planned by Visa in the U.S. and Asia.
Charlie Scharf, chief executive officer, Visa, said: “Our new center in Bangalore, which complements others planned for Singapore and the U.S., will help Visa to accelerate the development of next generation payment solutions that enable secure, digital commerce through connected devices like mobile phones, PCs, tablets and even cars.”
Juniper Research said worldwide mobile payment transaction volume, including all payments made via a mobile phone and tablet, is projected to reach $3.27 trillion by 2018. Purchases made via tablet or smartphone increased 48 percent in 2014 – that is three times the growth in desktop purchasing.
Shilpa Khatri
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