Visa Pioneers Cloud-Based Payment Acceptance

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Visa announced a new platform, Visa Acceptance Cloud (VAC), set to revolutionize the way businesses accept payments from their customers. Following the success of the company’s popular “Tap to Phone” solution, VAC will let acquirers, payment service providers, point of sale (POS) manufacturers, and Internet of Things (IoT) players move payment processing software from being embedded in each hardware device to being universally accessible in the cloud.

Already live across six geographies, VAC will help innovators transform almost any device into a cloud-connected payment terminal while providing seamless, cloud-based software updates, robust analytics, and network services from Visa. Since VAC runs on Visa’s data centers, it also offers leading data security capabilities.

“Cloud acceptance is the future of payments,” said Mary Kay Bowman, senior vice president and global head of payment and platform products, Visa. “Cloud-connected POS lets sellers accept payments across a range of devices quickly, simply, and safely, whether at an unattended kiosk in a hotel, a mirror in a high-end retail store or virtual in-home gym, or a smartphone in the hands of a small seller with a roadside newsstand.”

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