Visa has announced that some Internet of Things (IoT) companies, including manufacturers of wearables, automobiles, appliances, public transportation services and clothing, will now be able to embed secure Visa payments in their products using the Visa Ready Program.
Visa Ready partners are given access to tools, resources and Visa's Digital Enablement Program (VDEP), which includes access to Visa Token Service (VTS). VTS allows users to make secure mobile and digital payments over any Internet connection.
“Visa Ready is about opening secure, convenient payment capabilities to a wider range of products and enhancing the overall user experience,” said Michael Orlando, co-founder and chief executive officer of Fit Pay Inc., which has developed a payment platform services for wearable devices. “Integrating our wearable payment platform with the world’s largest card network is a critical step to bringing contactless payment capabilities to a whole new generation of IoT devices, including Pagaré--a payment smart strap we have developed for the Pebble Time.”