Visa Open Platform

2019: Start of Visa Open Platform

On May 31, 2019 it became known that the Visa company provided the payment platform of Visa Open Platform providing connection of issuers to the services provided by processors and providers and to Visa services including Visa Token Service and Visa Developer Platform.

According to the developer, the platform includes a set of the API beta interfaces, specifications and development tools for issuers and the processing companies working with them. These tools will help to begin development and beta testing of new payment products, to satisfy future requests of the consumers aware and surely using digital technologies.

API available for launch as of May, 2019:

• Creation of new digital card accounts on a request.
• Adding of just emitted or existing cards to this platform, for "creation of the solutions which are organically integrating a set of digital services Visa".
• Instant activation and tokenization of digital accounts for use in e-commerce and mobile purses.
• Activation of the mobile device of the consumer for implementation contactless or QR payments using tokens.
• Providing to clients expanded data on transactions for implementation of actions by them in real time or decision makings about authorizations and also the notification of holders of cards about purchases.
• Setup of rules and restrictions for use of digital maps, such as inclusion or shutdown of control of transactions at any time, installation of dynamic limits of transactions or expenses, control of use by channels of purchases, geographical points, categories TSP or on separate outlet.
• Sharing of the digital accompanying maps and access control in real time, including an opportunity to manage independently control elements on the linked or shared digital maps.

Visa reported that the additional API beta interfaces, including loyalty, encouragement and remunerations and also additional resources of transaction management, will be implemented during 2019. In 2019 it is also going to start the pilot program.

"During an era when consumers want to configure digital interfaces and to manage them according to the requirements, it is necessary to give them the chance to do the same with the money. Many consumers in Asia, for example, use a purse of superapplications which often is not accepted outside borders of their countries. Thanks to an expanded set of opportunities, clients and partners of Visa can give to the consumers an opportunity to turn balance of the purse of the digital map of Visa directly on the mobile device and to begin to perform transactions in the trade enterprises accepting Visa in the territory of many countries. These opportunities can also help to implement additional functionality, including setup of controls the card, loading of an option of "payment in one contact" and generation of notifications on transactions for consumers. The ultimate goal of Visa – to give to consumers the chance to arrive with the money as they want. Provide that parents can instantly create the Visa card on the mobile device and send it to the child's phone with a possibility of their immediate use instead of giving it money for cinema. They can also set the parameters defining where when and even as long the child can use this card, and at any time correct settings of these controls via own mobile device. It is one of many methods of possible use of the provided platform".[1] Sam Shrauger, the senior vice president of Visa supervising questions of implementing solutions for issuers and consumers

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