Visa has announced the launch of a new innovation centre at it European headquarters in London, encouraging institutions, merchants and other partners to work alongside Visa in the development of new payment technologies.
The 1,000 square metre facility, located in Paddington Basin, features practical demonstrations for visitors, including applications of the Internet of Things (IoT) in connected car and connected home environments, such as paying for car insurance or placing a grocery order from a refrigerator. Visitors can also experience virtual reality to choose a seat for upcoming events, as well as biometric authentication to pay for tickets.
Coupled with the launch of the new innovation centre, Visa has also opened its developer platform, enabling FinTech developers across Europe to create new commerce applications. The platform allows merchants, financial institutions, technology firms and startups to choose between a set of payment APIs (application program interfaces), SDKs (software development kits), and documentation to aid development projects.
Jim McCarthy, executive vice president for innovation and strategic partnerships at Visa, commented: “What makes the approach we take in our innovation centres unique is that they are all about collaborating with clients to solve real world, consumer pain points or business problems using digital solutions. We have had great success doing this in our centers globally and are very excited to be opening a state-of-the art facility in Europe.”
The latest centre in London joins a worldwide network of tech-driven Visa hotspots, including Berlin, Dubai, Miami, San Francisco, Singapore, Sao Paulo and Tel Aviv.
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