The much talked about mobile payment game changer, Visa Provisioning Service, isn’t new. The thing is, many haven’t started taking advantage of the innovation. And as you already know, money’s future is evolving. But thankfully, merchants’ payment processes are doing the same thing.
Visa is a reputable payment solutions provider. They provide several financial processing solutions to individuals, businesses, banks, and the government.
The company has done tremendously well despite the presence of other big players. And the Visa provisioning service has been an enormous success. The provisioning service’s convenience, flexibility, and innovation make an excellent choice for organizations and individuals.
Again, Visa’s partnership with other tech heavyweight is another reason the company has continued to thrive.
This article will show you how the provisioning service works, benefits, and other details you need to know. Continue reading for more!
So, what is a Visa provisioning service?
Launched by Visa, the provisioning service comes designed to offer customers a chance to connect their NFC-enabled smart devices to Visa payment account. Several organizations, including banks, transit operators, network operators, etc., use the Visa provisioning service.
With Visa provisioning service, organizations and individuals can download and access payment information using their smartphones, which must have the NFC chip.
Now, what is this NFC technology all about? NFC means Near Field Communication. And this technology makes it possible for users to exchange digital content, initiate secure transactions, and connect electronic devices faster. With just a simple touch, you can connect multiple devices with ease.
Another thing you need to understand about NFC technology is that devices only connect when they’re close. The reason is that NFC transmission is short range. Therefore, devices you wish to connect have to be a few centimeters away from each other. Otherwise, it won’t even connect or work effectively.
Visa Provisioning Service Features
Visa Provisioning Service is an incredible innovation, designed to make online payment and transactions a breeze for customers and various organizations.
But one thing you must have in mind is that the provisioning system is based entirely on NFC technology. This implies that your smartphone must have this technology, and you must enable it on the device. Otherwise, you can’t use the Visa provisioning service.
Unfortunately, most new generation iPhones produced by Apple don’t have this NFC technology. And consequently, they can’t take advantage of the Visa provisioning system.
Again, understand that provisioning service is simple to operate, and it utilizes the OTA (over the air) activation method. Whenever you switch on your NFC-enabled mobile device, the Visa provisioning service would become active.
How Visa Provisioning Service Functions
The Visa provisioning service is quite flexible and convenient. So you will have no stress using it, provided you have a device that supports the NFC technology.
Understanding how the service works will make you appreciate it even more. Here are the steps explaining how the provisioning system works.
Step#1: Get the right smartphone:
The first step is to obtain a smartphone. And it’s not just any phone but one that supports the NFC technology. Remember that without this technology, you cannot use the Visa provisioning service on your smart device.
Note: NFC chip must be embedded in your smartphone before the NFC technology can work, and you can use the Visa provisioning service.
There’s no shortcut or technology other than the NFC, at least for the time being. Who knows, maybe Visa might spring up some surprises in the future. Only time will tell.
Step#2: Make contact with the issuing institution:
The next step is the mobile payment’s activation on your smartphone. But for this to take place, you have to contact your Visa account issuing firm.
Step#3: Activate mobile payment:
Establishing contact with a Visa provisioning service official isn’t enough to use the system. The only way that can happen is when a Visa provisioning official activates your mobile device.
So, getting a suitable mobile device is one thing. Another is activating it.
Step#4: Start using the service:
After activating your smartphone that supports the NFC technology, you can start using the Visa provisioning service to pay for your multiple purchases.
Also, you need to authorize every transaction that involves your account. That’s how the service works.
When a payment request comes in, you’ll receive a text with a passcode. You must provide the code correctly for the payment to go through. A wrong passcode would make the transaction fail.
There would also be an exchange of information regarding your transaction over-the-air (OTA). This means you’ll receive details about the transaction, including the amount charged by the merchant.
Note: The Visa provision service allows you to download payment details of all your transactions on your mobile device.
Companies Using Visa Provisioning Service
The future of money is changing, and there’s no doubt about it. Many companies have started adopting payment solutions that offer convenience and flexibility, which customers are after.
The Visa provisioning service is one is quite innovative and laudable. So it’s easy to see why many top companies in the United States of America have made it their number one payment solution.
Here is a list of companies using Visa provisioning service:
- Amazon
- Starbucks
- Samsung
- Apple
- Netflix
These are the names of top companies in the United States using the Visa provisioning service to make payment a breeze for their customers.
So, you can see that many companies are already tilting towards tokenization via Visa. They have discovered that the service is the next big thing in the mobile payment market. For example, Starbucks is using the service and tokenization for all its purchases.
Amazon is also among the top companies that have embraced tokenization. Other companies include Samsung Pay, Google Pay, and Google Wallet.
Now the big question is, does Netflix use Visa provisioning service? The answer is yes, Netflix does. The company currently supports tokenization transactions.
The Visa Provisioning Service $0 Pending Transaction: Should You Be Concerned?
Most companies and individuals have complained about finding a Visa provisioning service charge and $0 authorization on their payment statement. The question is, are such transactions normal?
The answer is yes, such a transaction happen. The authorized transaction you find on your statement is actually to test if your account is open and functioning well.
How Is Visa Provisioning Service Beneficial To Merchants And Customers?
Visa has been seriously working on this fantastic technology for years, and now, it’s a reality. Customers can make quick and secure payments after purchasing items from various merchants. And what’s more, the process is super easy and fast.
As you may have known, the number of stores that allow mobile payments and provisioning services increases by the day. It’s a matter of time before the service becomes popular across every store in the United States of America.
Again, complete adoption of mobile payment and Visa provisioning service would reduce credit card theft, including fraudulent charges.
There won’t be any need for individuals to move around with their credit cards since they can make payments conveniently via Google Pay, Apple Pay, and even Google Wallet.
The Visa Provisioning Service Setbacks
The Visa provisioning service is quite a laudable innovation. But we need to tell ourselves the truth; it does have some apparent setbacks.
The most obvious is the NFC technology, which happens to be the backbone of the Provisioning Service.
Smartphones or mobile devices that don’t have the NFC chip won’t support the NFC technology. And for someone with such a device, it’s impossible to use the Visa provisioning service. Now that’s one significant limitation right there, considering how popular the provisioning service is getting.
On the flip side, replacing non-NFC compliant devices should be out of the question. Doing so would be too expensive for many interested customers. Instead, what Visa needs to do is to provide an alternative for individuals using non-NFC smart devices so they can have the chance to use the provisioning service.
Conclusion
So, what is the Visa provisioning service? We hope the answer to this question has been made clear. Seriously, this new service has revolutionized the mobile payment market. And it’s gaining widespread adoption. Many financial institutions, network operators, transit operators, and merchants have already started using this fantastic payment solution.
As earlier stated, the NFC technology is the only factor limiting the Visa provisioning service. But then, that doesn’t take away the fact that it’s a game-changer in the mobile payment sector. Visa has done well by introducing this payment solution. Let’s hope with a couple of upgrades, an alternative for non-NFC smartphone users would be available.
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