Visa Inc. this week said it hopes to accelerate the global adoption of mobile financial services through an alliance with a clearinghouse serving the financial-services industry, reports American Banker, a CardLine sister publication. Visa says its deal with Sterling, Va.-based NeuStar Inc. is designed to make it easier for mobile operators and their partners to offer new financial services to subscribers. "NeuStar brings a network effect by being the hub for operators," says Prakash Hariramani, a Visa executive. "We can essentially ride the rails of the interoperability that they have built to our community." NeuStar serves 4,000 telco operators worldwide and also administers the North American telephone numbering system, Hariramani says. Separately, Visa yesterday announced the commercial introduction in Peru of Visa Mobile Pay in conjunction with Visanet Peru and Telefonica. The service, which Visa calls the first commercial mobile-payment service in Latin America, is available to Visa accountholders with credit or debit cards issued by Banco de Credito del Peru, the government-owned Interbank, the BBVA Banco Continental unit of Spanish banking group Banco Bilbao Vizcaya Argentaria and the Scotiabank Peru unit of Bank of Nova Scotia. Initially, consumers will be able to use the service to pay for cab fares and flower deliveries and to top up their wireless prepaid accounts.

Subscribe Now

Authoritative analysis and perspective for every segment of the payments industry

14-Day Free Trial

Authoritative analysis and perspective for every segment of the industry