Country for PR: Hong Kong
Contributor: PR Newswire Asia (Hong Kong)
Friday, January 14 2022 - 08:10
The Future of the Point of Sale is Here: Visa Pioneers Cloud-Based Payment Acceptance
SYDNEY, Jan. 14, 2022 /PRNewswire-Asianet/ --

-Visa Acceptance Cloud creates more seamless, affordable point of sale 
opportunities for small businesses, retailers, fintechs, and the businesses 
that support them 

Today Visa (NYSE: V) announced a new platform, Visa Acceptance Cloud (VAC), set 
to revolutionize the way businesses accept payments from their customers. 
Following the success of the company's popular "Tap to Phone" solution, VAC 
will let acquirers, payment service providers, point of sale (POS) 
manufacturers, and Internet of Things (IoT) players move payment processing 
software from being embedded in each hardware device to being universally 
accessible in the cloud.

Already live across six geographies, VAC will help innovators transform almost 
any device into a cloud-connected payment terminal, while providing seamless, 
cloud-based software updates, robust analytics, and network services from Visa. 
Since VAC runs on Visa's data centers, it also offers leading data security 

"Cloud acceptance is the future of payments," said Mary Kay Bowman, senior vice 
president and global head of payment and platform products, Visa. 
"Cloud-connected POS lets sellers accept payments across a range of devices 
quickly, simply, and safely, whether at an unattended kiosk in a hotel, a 
mirror in a high-end retail store or virtual in-home gym, or a smart phone in 
the hands of a small seller with a roadside newsstand." 

In January 2020, Visa first showcased the power of "Tap to Phone," an 
industry-first solution that transforms current generation Android smartphones 
and tablets into contactless point of sale terminals. Tap to Phone was Visa's 
first offering that let sellers accept payments on the devices they already 
own, just by downloading an app. As of December 2021, there were more than 
300,000 devices across 54 countries using Tap to Phone.

Expanding beyond phones, Visa Acceptance Cloud enables any POS or connected 
device to seamlessly accept payments and to incorporate a range of added 
services, including buy now, pay later( ), 
fraud management, Rapid Seller Onboarding( 
), and advanced data analytics( ). The 
ongoing pilots in North America, South America, Europe, Africa, Asia and 
Australia cater to a variety of use cases, including retailers and restaurants 
in Australia through Visa's work with U.S.-based fintech, Bleu, NOBAL 
Technologies' smart mirror and public trains in Brazil.

"Bleu is working with Visa to bring seamless payments to businesses across 
Australia for the very first time," said Sesie Bonsi, President & CEO, Bleu. 
"While the average business owner can spend as much as $1,000 on POS devices, 
plus countless hours and more money on time consuming certification processes, 
moving to Visa Acceptance Cloud removes the barriers of traditional hardware 
and burdens of device-bound kernel certifications, making it easier for the 
independent business that we serve to deliver touchless payment options to 
their customers through any connected device."

"Retailers are looking to enhance their in-store customer experience to meet 
the speed and convenience of the online and in-store checkout experiences," 
says Bill Roberts, CEO, NOBAL Technologies. "NOBAL's intelligent mirror in 
partnership with VAC from Visa provides payment experiences on our mirror 
without the expense and expertise required for embedded hardware modules, 
helping us push the future of retail in new ways."

"VAC is a universal platform that helps open up acceptance for all – by freeing 
our leading technology partners to innovate. On one end of the spectrum, cloud 
acceptance helps drive inclusion for more small sellers who want to offer 
digital payments. On the other end, Visa Acceptance Cloud enables advanced 
shopping and buying experiences that will be central to the future of retail 
for businesses of all shapes and sizes," continued Bowman. "Moving acceptance 
to the cloud opens up the possibility of so much innovation from the entire 
payments ecosystem. This is only the beginning."

To learn more about VAC, please visit our website( 
) or contact 

About Visa 

Visa (NYSE: V) is a world leader in digital payments, facilitating more than 
215 billion payments transactions between consumers, merchants, financial 
institutions and government entities across more than 200 countries and 
territories each year. Our mission is to connect the world through the most 
innovative, convenient, reliable and secure payments network, enabling 
individuals, businesses and economies to thrive. We believe that economies that 
include everyone everywhere, uplift everyone everywhere and see access as 
foundational to the future of money movement. Learn more at

Source: Visa