The strategic alliance is expected to facilitate collaboration among mobile network operators and financial institutions.
Visa Inc, a global retail electronic payments network, and NeuStar, an interconnection service provider to wireless network operators, have entered in to a strategic alliance designed to accelerate the adoption of mobile financial services globally.
The Visa-NeuStar initiative enables delivery of mobile financial services to consumers in geographies with low penetration of payment products and financial services. Those services may include mobile remote payments for services such as bill payment and top-up for wireless airtime minutes and mobile money transfer.
Visa said that the alliance may also make it possible for operators to provide pertinent data regarding handset capabilities. Visa could then detect phone make, model, screen size, browser type, and multimedia capabilities to intelligently tailor the user experience for that handset.
Elizabeth Buse, Head of Product at Visa, said: “This initiative has the potential to accelerate delivery of mobile financial services in both emerging and developed economies. Those services include mobile payments, wireless top-up of prepaid accounts, money transfer, value-added services such as alerts and offers and mobile acceptance of electronic payments.”