Visa to Launch P2P Payments Service
 

I got this in today's mail from a service I use to keep me up-to-date on Ebay/Amazon seller stuff. I thought it might be of interest and use to some here.

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Visa announced a new person-to-person payments service that will allow U.S. consumers to receive and send funds to any eligible Visa credit, debit or prepaid account, anywhere in the world. Visa personal payments are already offered by financial institutions outside the U.S. with more than 70 programs around the world enabling consumers to send funds to Visa accounts.

The new service was made possible through technical enhancements to VisaNet, Visa's global payments processing network, and through the introduction of a new Visa transaction type that allows financial institutions to accept incoming funds.

Visa is working with CashEdge and Fiserv, providers of electronic person-to-person payment, account transfer and bill payment services to U.S. financial institutions. Through the agreements, CashEdge and Fiserv will have access to VisaNet, enabling them to integrate the Visa personal payment service into their respective person-to-person platforms - Popmoney and ZashPay. This will allow a participating bank's customers to send money directly to a Visa account.

How it Works
Bank customers of participating financial institutions will have the option to select a Visa account as the destination for funds when making a personal payment. By simply entering the recipient's 16-digit Visa account, email address or mobile phone number, consumers can send funds directly from their bank account to a recipient's Visa account.

The first U.S. financial institutions are expected to make Visa personal payments available to their customers through CashEdge and Fiserv by the second half of 2011.

http://www.auctionbytes.com/cab/abn/y11/m03/i21/s02

Had this in Singapore for ages.

um is this is true

kinda like square up

COOL :thumbsup

micropayments and easy p2p cc online and kiosk methods are the killer app for this second decade in adult

Nice :thumbsup

Now will they allow adult in that

With the companies mentioned in it already its safe to say - no.

Do you use square up? I got it - and my wife wants to use it for her business but i cant find much on the payout info and they have awful support.

The payout is kinda confusing - its like you get your first $1000 in 30 days and then they hold onto another $1000 for another 30 days??

for a small business - as they pushed it to - a 30 day hold on your payment once you reach the min $1000 payout is nto good at all.

www.squareup.com -- service is called square, i've used it a few times - generally 2-3 biz days before they release your funds. They recently updated and simplified their transaction prices & info on their page.

I wouldn't be giving anyone my 16 digit VISA Card number, that's for sure. Phone number or email address will have to do I guess.