The head of Visa recently said that the company was going to make its incetives more appealing to merchants after a new Federal Reserve rule is set to take affect requiring debit cards to have at least two card networks.
In a statement in front of analysts on October 26, Visa CEO and chairman Joe Saunders said that ahead of the regulations that are set to take effect on April 1, the company would be changing the way it operates in the marketplace.
“To address the pockets of debit revenue at risk as a result of the regulation, particularly revenues related to PIN debit, we are moving forward quickly with a program to incent routing decisions,” Saunders said, according to ISO and Agent.
He also discussed the mobile payment sector as well. “No company is doing more than Visa to set the stage for broad adoption of Near Field Communication-based mobile payments,” Saunders said.
One retailer that made a deal with Visa in recent weeks was REI. The company recently launched the REI Visa App for Apple iPhones to meet the demands of customers.Back To Blog