A few days ago, Visa issued a press release announcing something really important! The world's largest payment system is opening its doors to developers!
It may not sound like much, but it is really important news! People spend an excessive amount of money every day and more and more people prefer cards to cash. Companies also want to participate in the payment process, believing that they will earn a percentage of all these payments.
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That's why services like Apple Pay, Samsung Pay, Stripe, and DOA CurrentC are growing and why Visa, which is currently the biggest name in payments, is scared. Sure, Apple Pay and Samsung Pay use credit cards, but if people get used to paying via their mobile, it won't be hard to stop using Visa and Apple, for example, starts working directly with banks!
And so Visa, to avoid this, is opening up its system to third-party developers. Originally, Visa had APIs to access 150 different systems, from simple things like Visa Checkout and Visa Direct to things like Visa location, currency, and tokenization services.
The company is now announcing the release of Visa Developer. If you have a company that wants to sell products, you can connect them to the Visa back end!
The company hopes that by making it easy for developers to use its services, users will choose Visa and not use Stripe or Apple Pay for online payments or money transfers.
It's a smart move and it will definitely work! If you're designing an app and have the option to integrate either Apple Pay or Visa Checkout to make your payments, you'll choose the easiest service and the one your customers are able to use. Not everyone has an iPhone, but most people in the Western world now have Visa.
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