New mobile payments service app mVisa in India

The American global payments technology solution firm Visa Inc to test its pilot app-based mobile payments service ‘mVisa’ in India. mVisa app enables users to transfer money and make micro payments for services through mobile. Visa chose India for its pilot app as Indians does the highest e-commerce transactions over mobile in the world. This app will provide service from September and has tied up with about 20,000 merchants in Bengaluru and prime banks of India. Through this app company aims to replace physical points of sales (PoS) with mVisa. In India Visa has over 1.1 million physical points of sales (PoS). Recently Visa has provided near field communication payment service to iPhone.

About visa 

Visa Inc. is an American multinational financial services corporation headquartered in Foster City,California, United States. It facilitates electronic funds transfers throughout the world, most commonly through Visa-branded credit cards and debit cards Visa does not issue cards, extend credit or set rates and fees for consumers; rather, Visa provides financial institutions with Visa-branded payment products that they then use to offer credit, debit, prepaid and cash-access programs to their customers