The Internet of Things (IoT) is re-defining the payment world's future.
The Internet of Things is a world of interconnected smart devices. By 2020, approximately 20 billion devices (source: Gartner Inc., 2017) will be connected to the internet. Visa Ready provides a path to providing secure payment functionality to cars, wearables, household appliances, retail environments, and cities. In this growing ecosystem, device manufacturers can look to approved Token Service Providers (TSPs) to enable tokenized payment functionality to IoT devices.
Once you register, start the certification process by describing what your solution does and how it functions.
As your solution is tested, Visa Ready will provide guidance and materials to help your solution meet the highest industry standards.
When it's completed, your solution will be listed in the Visa Ready solution directory for other businesses to find and learn more about.
By embracing the growing trend of IoT, merchants may enjoy new channels, consumers, access to better security, and additional points of sale.
As IoT devices continue to proliferate, a huge opportunity in the digital payment space exists. The Token Requestor and Token Service Provider will help scale secure, digital payments and streamline the process for new entrants into the space.
In a world that demands greater security, financial institutions can rest assured that Visa Ready IoT solutions have been tested and meet industry standards.