Tag: VISA

Oen Support Technology announced the integration of Visa Click to Pay across its entire platform, becoming the first payment platform in the Asia-Pacific region to launch this service. This collaboration primarily addresses order loss caused by cumbersome checkout processes, making online payments as intuitive and fast as physical card payments. Official data shows that checkout efficiency can be improved by up to approximately 50%. It also addresses the 7% shopping cart abandonment rate with one-click card number input. According to statistics from the Baymard Institute in Copenhagen, Denmark, the global average online shopping cart abandonment rate is as high as 70.22%, with nearly half of consumers hesitant due to overly cumbersome checkout processes or distrust of websites storing card numbers. To optimize the last mile of the "support economy," the core advantage of Visa Click to Pay integrated by Oen Support Technology is "no input required." Once consumers have linked their cards, they can automatically input their card information with a single click when checking out on pages supporting this feature, eliminating the need to repeatedly enter the 16-digit card number. Oen's internal testing shows that this can reduce overall checkout time by about half. Say Goodbye to SMS Verification Codes, Support for FIDO Passkey Besides speed, security and convenience are also key focuses of this upgrade. Click to Pay supports FIDO Passkey biometric verification, meaning users can use facial or fingerprint recognition instead of traditional SMS OTP verification codes. This is particularly useful in environments with poor reception, such as large events and indoor venues, solving the past predicament of being unable to make payments due to not receiving SMS messages. At the same time, the system uses Visa tokenization technology, ensuring that the real card number is not stored on the platform, significantly reducing the risk of data leakage and impersonation. Existing customers can upgrade seamlessly, with future expansion to subscription models. Hsiao Hsin-sheng, co-founder and CEO of Oen Support Technology, stated that the relevant technical integration has been completed, and existing partners can enable this function on checkout pages with "event settings" without additional development or program modifications. Future medium-term plans include expanding this function to various programs such as membership subscriptions, online merchandise sales, and regular fixed-amount donations. This not only makes payments smoother, but also helps organizers to convert payment behavior into manageable supporter data, deepening their connection with fans.

US President Trump has officially signed a new executive order imposing an annual fee of up to $10 on H-1B skilled worker visa applications, payable for up to six consecutive years. This could mean the total cost per foreign employee exceeds $60. This new rule will apply to all future applications and will be reviewed by the Department of Homeland Security. Applicants located overseas who fail to pay the fee will be denied entry, although the government retains a "in the national interest" exemption clause. The H-1B visa has long been a crucial channel for the US technology industry to attract international talent. According to USCIS data, Amazon currently employs over 100 people on H-1B visas, while Microsoft, Meta, Apple, and Google each have approximately 4000 to 5500. Other major employers include Walmart, Intel, IBM, and NVIDIA. If the new fee is implemented, these companies will face significantly increased annual personnel costs, potentially forcing them to reduce hiring or relocate R&D work to other countries. The White House: Correcting Abuse and Protecting American Workers. A White House statement points out that some employers have abused H-1B visas to suppress wages, putting American workers at a disadvantage, particularly in the information technology sector. The statement specifically accuses IT companies of manipulating the H-1B visa mechanism, causing significant harm to American workers. This move is seen as an extension of the Trump administration's "America First" policy, aiming to use economic leverage to force companies to prioritize hiring local workers. Simultaneously, Trump signed a new immigration program called "Gold Card," claiming it will prioritize immigrants with "clear interests" in the United States, including successful entrepreneurs and investors. This program offers fast-track visa approvals, but applicants must donate specified amounts to the U.S. Department of Commerce: $1 million for individuals and $200 million for corporations or legal entities applying on behalf of employees. This move is interpreted as a disguised "paid citizenship" scheme by the Trump administration, potentially attracting high-net-worth immigrants but also exacerbating the polarization of the immigration system. Legal challenges are inevitable, and backlash from the tech community is growing. It is widely expected that this policy will face legal challenges from businesses and immigrant groups, primarily due to its excessive fees and potential violation of the equal employment opportunity principle. Tech industry insiders worry that this policy will not only weaken the US's attractiveness to top global tech talent but may also lead to a long-term shift in R&D focus overseas, impacting US competitiveness in AI, semiconductors, and cloud computing. Although the new regulations have not yet been officially implemented, they have already sparked widespread discussion among tech companies and startups. Some observers believe that Trump may use this policy, along with the "Gold Card," to create a policy narrative of "punishing abuse and rewarding contribution." However, whether such high barriers will harm America's innovative advantage remains to be seen.

Amidst the accelerating transformation of digital healthcare payments in Taiwan, Visa announced today (August 7th) a collaboration with the remote healthcare payment tool "MedPay+" App. This collaboration officially integrates Visa Tokenization technology, providing enhanced cybersecurity for over 1 million members and 150 medical institutions, thereby strengthening the healthcare payment experience and driving industry digital upgrades. Visa Tokenization technology converts the traditional 16-digit credit card number into an untraceable code (token), preventing its theft and misuse even in the event of a data breach, effectively reducing the risk of fraud. Since its launch in 2014, over 10 billion Tokenized cards have been issued globally, and in 2023, it successfully prevented fraud losses of up to US$650 million (approximately NT$205 billion). Visa Taiwan General Manager Huang Hui-chin stated, "This collaboration with 'MedPay+' utilizes code-based technology to make medical payments safer and more convenient, while also setting a new benchmark for digital healthcare security. We will continue to use innovative payment technologies to assist Taiwan's healthcare system in building a trustworthy digital payment environment." As the first payment tool in Taiwan specifically designed for medical scenarios, "MedPay+" not only eliminates the cumbersome process of queuing for payment but also provides functions such as remote input of medical information, online payment, and medical record management, helping users to more conveniently take care of their own and their families' medical needs. Wu Ming-yan, General Manager of Da-Kuang Hospital Management Consulting Co., Ltd., pointed out that Taiwan sees nearly 400 million medical visits annually, leading to a growing demand for efficient and secure payment tools. After its upgrade this year, "MedPay+" has already incorporated password enhancement, biometric login, and 3D verification for card binding. This further collaboration with Visa, adopting international-level code-based standards, will comprehensively protect the privacy and security of every transaction. In addition to its core code-based technology, Visa also offers a number of innovative value-added services, such as Visa Payment Passkey, Click to Pay, and one-click card binding. These features not only further improve transaction authorization success rates but also help businesses strengthen customer loyalty and create business growth. Visa stated that it will continue to collaborate with more partners in the healthcare, finance, and technology sectors to jointly build a convenient and highly secure healthcare payment ecosystem, helping Taiwan's healthcare industry achieve full digitization.

A lawsuit alleging that Apple, Mastercard, and Visa monopolized the mobile payments market and hindered competition was dismissed by a U.S. court. The court ruled that the plaintiffs' allegations of "bribery to maintain a monopoly" lacked sufficient evidence, thus temporarily halting the dispute. The lawsuit, filed in 2023 by Illinois-based beverage retailer Mirage Wine & Spirits, represented all physical retailers in the U.S. that offered Apple Pay. The lawsuit alleged that Visa and Mastercard bribed Apple with exorbitant fees to maintain their market dominance through credit card transactions. The lawsuit alleged that Apple reached an agreement with Visa and Mastercard that included Apple cancelling the development of its own retail payment network system to avoid competition with Visa and Mastercard's respective networks, and also preventing other businesses from using the NFC mechanism behind Apple Pay, meaning third-party mobile wallet providers could not use the iPhone's built-in NFC function for contactless payments. The lawsuit alleged that Apple's charging of approximately 0.15% on each credit card transaction and 0.5 cents on each debit card transaction was an economic incentive for Apple Pay's continued deep cooperation with Mastercard and Visa. However, the court ultimately ruled that the plaintiff's submitted materials did not provide concrete evidence that Apple originally planned to launch its own transaction payment network system, or that there was any specific instance of Mastercard or Visa "bribing" Apple. In fact, since Apple Pay's launch in 2014, international card issuers such as Mastercard, Visa, and American Express have been deeply involved in its ecosystem design and promotion. Many of Apple's financial services, including Apple Card in partnership with Mastercard and Apple Cash in partnership with Visa, are built on the existing financial system. Although the lawsuit was dismissed by the court, it still reflects market skepticism regarding Apple's closed NFC application permission design. Over the years, developers have repeatedly called on Apple to open up the NFC Tap to Pay function, allowing third-party payment services to directly access the service and complete transactions via NFC sensing without going through the Apple Pay mechanism. Although Apple has subsequently further opened up its NFC functionality, it has not fully liberalized its use. It wasn't until 2024, in response to the EU's Digital Markets Act (DMA) regulations, that Apple expanded its NFC functionality to Europe, allowing third-party payment apps to directly access the devices. More recently, this has been extended to the US, UK, and Japan. Despite this, the Apple Pay ecosystem in most global markets remains closed, maintaining close cooperation with Mastercard and Visa, and this is unlikely to change in the short term. Even after the court dismissed the case, the plaintiff, Mirage Wine & Spirits, can still file another lawsuit after providing sufficient evidence, indicating that the competitive landscape of the payment market remains uncertain. Furthermore, with the emergence of Samsung Pay, Google Pay, and others...

At its Asia Pacific media launch, Visa announced the location of its Visa Innovation Center at its Asia Pacific headquarters in Singapore, marking a new era of AI-driven commerce in the region. The company also unveiled a new face of future commerce and announced several innovative services and strategic partnerships to accelerate the Asia Pacific region's transition to this new era. ▲The Visa Innovation Center at its Asia Pacific headquarters in Singapore, leading the Asia Pacific region into a new era of AI-driven commerce. Jack Forestell, Visa's Chief Product and Strategy Officer, stated, "Visa combines its powerful global payments network with its leadership in payments innovation in the Asia Pacific region to launch new products and solutions that will transform the business model in the region, making AI-driven payments more trustworthy and secure." At the Asia Pacific media launch, Visa shared how AI, combined with e-commerce, is bringing about a significant transformation in how consumers find and purchase products and services; consumers will be able to authorize AI agents to browse, select, purchase, and manage various transactions on their behalf. To achieve this vision, AI agents need to gain the trust of users, banks, and sellers. Visa is bringing new AI-driven solutions to its partners in the Asia Pacific region, including AI platforms, banks, fintech companies, technology companies, and merchants, providing a simpler way to connect Visa's payment network and achieve a seamless and secure electronic payment experience. ▲Jack Forestell, Visa's Chief Product and Strategy Officer, announced new products and solutions, launching a new era of AI commerce in the Asia Pacific region through "Visa Intelligent Commerce Solutions." One of the highlights of this presentation was the Visa Intelligent Commerce Solutions...

Along with the launch of the Galaxy S25 series at the beginning of the year, Samsung also included a preview of the Tap to Transfer feature in the new version of Samsung Wallet. This feature will soon be available in the US market, allowing users to transfer money between their phones and other Samsung phones that support this function via their built-in NFC. This transfer function is a collaboration between Samsung and Visa and Mastercard, completed through the Samsung Wallet service, using NFC for connection and transfer. Besides phones, transfers can also be made using physical debit cards that support NFC. Additionally, users can search for the recipient's phone number within the Samsung Wallet app to find their corresponding Samsung account and make online transfers, with transactions completed in as little as a few minutes. As for the previously announced Samsung installment payment feature, a beta version is currently available for users in the US to experience the "buy now, pay later" service. Apple has already provided a feature called "Tap to Cash" that allows users to make payments directly through the built-in NFC of certain iPhone models, but it requires the Apple Cash service and is therefore currently only available in the United States.

Following previous reports that Apple would terminate its Apple Card partnership with Goldman Sachs and that it might switch to American Express, there are now claims that Visa plans to spend $1 million to secure a partnership with Apple. Previously, Mastercard provided the transaction network services behind the Apple Card business, and while Visa and American Express are clearly eager to become Apple Card partners, Mastercard is trying to maintain its relationship with Apple. As for issuing banks, after Goldman Sachs' termination, JPMorgan Chase and Synchrony Financial are also reportedly vying for a partnership with Apple. Given the significant market share of the iPhone in the US mobile phone market, the proportion of Apple Card applications is increasing. Furthermore, Apple's continued innovation in financial transaction services is creating new usage models that could boost revenue from credit card transactions, making it more attractive for providers like Mastercard (transaction network service providers) and issuing banks to partner with Apple. Goldman Sachs is considering ending its partnership with Apple because its lending services, such as Apple Pay Later, have resulted in billions of dollars in losses. Furthermore, the way Apple Card calculates fees has created considerable internal pressure at Goldman Sachs. Goldman Sachs is clearly unable to persuade Apple to adopt a standard credit card fee structure for Apple Card, including late payment charges.

With the overseas tourism market continuing to heat up, the convenience and security of cross-border payments have become a focal point. A recent Visa report indicates that a staggering 73% of Taiwanese consumers plan to travel overseas in the coming year, ranking first in the Asia-Pacific region and exceeding the regional average by 8 percentage points, demonstrating a strong inclination among Taiwanese travelers to travel abroad in the new year. As the payment demands driven by cross-border tourism rise, the importance of payment security is increasingly evident. The application of AI in fraud prevention and control will continue to deepen, establishing higher standards of transaction security and payment experiences for consumers and merchants. Visa Taiwan General Manager Huang Huiqin stated, "To meet the demands for cash flow and payment security brought about by the cross-border travel boom, Visa continues to promote diverse payment methods, providing consumers with more payment options. We also enhance digital payment security through AI technology research and development and data analysis, allowing consumers to travel freely and pay with peace of mind. At the same time, Visa will continue to share the latest market insights, analyze future payment trends, and, with security at its core, drive Taiwanese consumers and businesses towards a smarter and more convenient era of non-cash payments." Trend 1: Cross-border payment demand will continue to accelerate. According to a Visa report, cash (68%) and credit cards (65%) are the main payment options for Taiwanese travelers traveling abroad. Nearly 40% of spending (38%) on a single trip is spent on shopping. Among these, 74% of travelers use a single credit card for a single trip, while 26% use multiple credit cards. The top five travel destinations surveyed among Taiwanese travelers were Japan (58%), South Korea (18%), China (17%), Thailand (11%), and Hong Kong (8%), driving the growth of related cross-border payments. Trend Two: AI-Powered Fraud Prevention and Control Will Reshape the Payment Ecosystem. Security is the cornerstone of all payment experiences, and AI is playing a crucial role in personalized payment experiences and fraud prevention and control. As deep learning algorithms become increasingly mature and sophisticated, AI can more effectively analyze transaction patterns, detect potential risks in real time, and comprehensively improve the security and reliability of payments. This year, Visa launched three AI-powered...

As Taiwan gradually moves towards a cashless society, digital payment company Visa announced a dual-engine strategy of "diversified consumer payments" and "digitalized enterprise payments" to drive the further upgrade of Taiwan's cashless business environment. In addition to continuously expanding consumer payment scenarios and providing a smooth, secure, and diverse payment experience, Visa is focusing on enterprise payments, launching "Visa Commercial Pay," which directly links digital enterprise cards to Apple Pay and Google Pay, enabling card-based enterprise payments and enhancing the enterprise card usage experience. Visa also simultaneously launched the "Visa Business Payment Service Provider" solution, allowing businesses to pay suppliers who do not accept cards, while also enjoying the convenience of delayed payments. Visa's SME payment insights report indicates that 33% of Taiwanese SMEs want to begin their digital transformation with payments; however, currently only 53% of these businesses accept credit cards, with the remainder refusing due to technology integration and cost considerations. The survey also shows that SMEs use a variety of payment methods, including bank transfers, cash, and card payments. However, 32% of businesses still do not use card payments due to concerns about suppliers not accepting cards, card security, and ease of use. Huang Hui-chin, General Manager of Visa Taiwan, stated, "Visa continues to work with its ecosystem partners to drive the development of Taiwan's cashless society through the dual engines of 'diversified consumer payments' and 'digitalized corporate payments.' Our survey found that 70% of SMEs want to apply for corporate cards, but their biggest concern is the widespread acceptance of cards by suppliers. This indicates that the industry must address both corporate card usage and card acceptance simultaneously to accelerate the cardization of corporate payments and assist businesses in conducting business using cards." Insight 1: Nearly 85% of SMEs Face Challenges in Digitalizing Corporate Payments. The Visa SME Payment Insights Report indicates that over 60% of SMEs have adopted online transactions, but...

Visa has announced a partnership with Taichung MRT, allowing Visa credit cards to be used directly to enter Taichung MRT stations starting immediately. Alternatively, users can use Apple Pay, Google Pay, or Samsung Pay to make payments at the station gates for entry and exit. A survey indicates that faster commutes (52%) and contactless payment (41%) are the two main reasons attracting passengers to public transportation. The partnership between Visa and Taichung MRT to enable Visa contactless payment provides passengers with a convenient, secure, and fast payment method, while also making it easier for overseas visitors to use public transportation. The introduction of Visa contactless payment into Taichung's public transportation system, through Cathay United Bank's acquiring services, not only provides consumers with an integrated, convenient, and secure transportation payment experience but also reduces the production of physical transportation tickets, increasing public willingness to use public transportation and thus reducing overall urban transportation carbon emissions. Visa Taiwan General Manager Huang Huiqin stated, "Visa has implemented contactless payment programs in over 550 cities worldwide. This collaboration with Taichung MRT successfully expands new digital payment scenarios, sets a new benchmark for smart transportation, and provides passengers with more diverse payment options. Visa will continue to collaborate with global public and private sector partners to create a convenient and seamless transportation payment experience, building a smart and sustainable urban lifestyle where 'pay with a tap, travel freely'." Taichung MRT Chairman Yan Bangjie pointed out, "Taichung MRT is committed to creating a comprehensive payment environment and a convenient travel experience. This collaboration with Visa to launch contactless payment for public transportation is a milestone in the development of smart public transportation and will become a key driver for the development of Taichung's smart city. Taichung MRT will continue to provide the public and international tourists with higher quality and smoother public transportation services." Cathay United Bank Vice President Chen Guanxue shared, "Cathay United Bank is constantly expanding its payment ecosystem and providing professional financial technology and secure payment services. We are very pleased to collaborate with Visa this time..." In cooperation with the Taichung MRT, Cathay United Bank will expand its MRT financial services to central Taiwan, providing seamless credit card contactless payment services across the entire Taichung MRT line. Cathay United Bank will also continue to collaborate with cross-industry partners to create more comprehensive payment application scenarios to meet the needs of various consumer types.