Credit card giant Visa funds Twitter founder’s Square mobile payment startup

Jack Dorsey, the man who co-founded Twitter and Square, has managed to secure financial backing for his latter startup. The much-needed cash will be provided by Visa, one of the leading credit card brands. The funding comes on top of existing investments by Sequoia Capital and Khosla Ventures.

Square makes a handy dongle that turns your iPhone or Android phone into a mobile credit card reader. They hit the ground running when Apple put the device on sale on both its online and brick-and-mortar stores.




Reuters reports that Visa got a seat on Square’s advisory board although the extent of their investment remains unspecified.

The funding hasn’t changed anything in Square’s product portfolio. Furthermore, the company continues to offer their free smartphone software and the iPhone/Android dongle.

This could be the beginning of a lucrative side-business for Visa because Square targets people who need to charge clients on the spot, which includes a wide variety of professions and real-life situations.
*thanks 9to5Mac*

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Visa Launches Contactless Payments in Europe via iPhone Dongle

Visa Europe and Wireless Dynamics have announced a mobile contactless payment solution that will bring Visa contactless payments to iPhone users across Europe.

iPhone users simply attach the Wireless Dynamics iCarte accessory, available through their bank or mobile operator, to their iPhone and download the companion Visa Mobile application for iCarte App from the App Store. The iCarte accessory contains an antenna and an embedded Secure Element where the Visa mobile card is safely stored. This "card", in turn, works with an app from the App Store to enable payments on the iPhone. Once the Visa mobile card is activated, consumers can start making purchases by simply launching the app and touching their iPhone on any contactless-enabled point of sale terminal across Europe, without the need to enter their PIN.

The iCarte accessory is designed to equip iPhone users with the tools they need to buy goods using mobile contactless technology from a growing number of European retailers. Visa Europe's first deployment has been launched in collaboration with Yapi Kredi bank and Turkey's largest mobile operator, Turkcell. Yapi Kredi customers equipped with a Turkcell mobile plan will be the first who can purchase directly from their iPhone at 40,000 contactless point of sale terminals in Turkey using their iCarte payment accessory. The product is also being used in the UK with Visa staff in London with partners FIS, a leading provider of prepaid platforms, and Coventry Building Society. To further commercialise the accessory, Visa Europe will engage its member banks and partner mobile operators in Italy, France, Poland, Spain, Switzerland, Turkey and the UK, all of which have rapidly maturing contactless payment infrastructure.

The Wireless Dynamics iCarte accessory is compatible with iPhone 4, iPhone 3GS and iPhone3G on iOS 3.1 or higher. The iCarte Secure Element can be associated with multiple Visa accounts.



*thanks iclarified*

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- Posted using my iPhone 4

Visa Launches Contactless Payments in Europe via iPhone Dongle

Visa Europe and Wireless Dynamics have announced a mobile contactless payment solution that will bring Visa contactless payments to iPhone users across Europe.

iPhone users simply attach the Wireless Dynamics iCarte accessory, available through their bank or mobile operator, to their iPhone and download the companion Visa Mobile application for iCarte App from the App Store. The iCarte accessory contains an antenna and an embedded Secure Element where the Visa mobile card is safely stored. This "card", in turn, works with an app from the App Store to enable payments on the iPhone. Once the Visa mobile card is activated, consumers can start making purchases by simply launching the app and touching their iPhone on any contactless-enabled point of sale terminal across Europe, without the need to enter their PIN.

The iCarte accessory is designed to equip iPhone users with the tools they need to buy goods using mobile contactless technology from a growing number of European retailers. Visa Europe's first deployment has been launched in collaboration with Yapi Kredi bank and Turkey's largest mobile operator, Turkcell. Yapi Kredi customers equipped with a Turkcell mobile plan will be the first who can purchase directly from their iPhone at 40,000 contactless point of sale terminals in Turkey using their iCarte payment accessory. The product is also being used in the UK with Visa staff in London with partners FIS, a leading provider of prepaid platforms, and Coventry Building Society. To further commercialise the accessory, Visa Europe will engage its member banks and partner mobile operators in Italy, France, Poland, Spain, Switzerland, Turkey and the UK, all of which have rapidly maturing contactless payment infrastructure.

The Wireless Dynamics iCarte accessory is compatible with iPhone 4, iPhone 3GS and iPhone3G on iOS 3.1 or higher. The iCarte Secure Element can be associated with multiple Visa accounts.




*thanks iclarified*

Our new Forum is now open here or on the top tabs marks Forums, please register and post..

For the latest limera1n, rubyra1n, and all tech stories, follow us on Twitter at
@iphonepixelpost or @limerain_com
www.iPodSets.com
- Posted using my iPhone 4