How Visa Plans To Dominate Mobile Payments, Create The Digital Wallet And More. It’s no secret that credit card companies are shelling out big bucks and aggressively forming partnerships and deals to start cashing in on the mobile and digital payments innovations currently taking place. American Express, which recently debuted its own digital payments product Serve, has been particularly aggressive on the partnerships front, striking recent deals with both Foursquare and Facebook.
Mastercard has bet on NFC with a partnership with Google for Google Wallet and bought online payments gateway DataCash for $520 million last fall. And Visa has made a number of major moves in the mobile and digital payments space of late; including making an investment (and taking on an advisory role) in disruptive startup Square, buying virtual goods payments platform PlaySpan for $190 million, and acquiring mobile payments company Fundamo for $110 million. Gajda explains that there are three prongs to Visa’s mobile payments strategy. V.me? Visa research fails to check British culture before launch of PayPal alternative. Visa to Acquire CyberSource, Authorize.Net. The proposed acquisition by Visa of Authorize.Net’s parent company is the latest evolution for the storied payment gateway.
Visa announced on April 21 its agreement to purchase CyberSource, Authorize.Net’s parent, for $26 per common share, or roughly $2 billion in cash. The deal is expected to close later this year. Screen shot of Authorize.Net’s home page.