Visa Agrees to Work with GSMA on Standards for Mobile Payments

In a move that may indicate a thawing of relations between mobile operators on the one hand and banks and card networks on the other, Visa Inc. announced on Wednesday it will work with the London-based GSM Association to develop standards for mobile payments and handset-based money transfers. The first set of standards, which will relate to money transfers, will likely become available “within the next few months,” Tim Attinger, global head of product development at Visa, tells Digital Transactions News. These standards are coming first because of a standing relationship between Visa and the GSMA to enable mobile remittances, he adds. (More)