Visa highlighted several overall trends in the payments industry, including the convergence of electronic payments and mobile phones, at a briefing in Dubai, United Arab Emirates. Also mentioned were the continued growth of the internet as a payment channel, the expansion of electronic payments into new acceptance locations such as transit and vending machines and the need to extend electronic payments to the millions of un-banked or under-banked consumers around the world.
The company also demonstrated a variety of transactions using the contactless Visa payWave technology, paying a fare at a transit turnstile, buying products in vending machines and completing a purchase at point-of-sale terminals. Mobile payment services such as mobile offers, alerts and money transfer, using a NFC-enabled handset, also were showcased.
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