Visa has unveiled a platform with a set of beta APIs and development tools that help issuers and issuer processors build and test digital payment products.
Available to the payment giant's clients and partners through a new site, called Visa Next, the platform promises to "help re-imagine" how people access, manage and control their money in the digital age.
The first set of beta APIs will have a host of functionalities, including the ability to create new digital card accounts on demand; add newly issued or existing cards; instantly activate and tokenize digital accounts; enable mobile devices for contactless or QR payments using tokens; configure rules for digital cards; and share digital companion cards.
“Imagine if parents could instantly create a Visa card on their mobile device and send it to their child’s phone for immediate use, instead of giving them cash for movies, for example. They could also set parameters around where, when, even how long the child can use this card - and adjust these controls at any time via their own mobile device,” says Sam Shrauger, SVP, global issuer and consumer solutions, Visa.