[eMarketer] Visa’s new cloud-based payment solution opens up a world of acceptance opportunities

Visa is piloting a platform called the Visa Acceptance Cloud (VAC), which lets payment service providers embed transaction software into digital devices beyond standard payment terminals, according to a press release.

VAC expands on Tap to Phone, the mobile point-of-sale (mPOS) product that Visa launched two years ago.

Tap to Phone lets merchants accept contactless payments using Android smartphones and tablets. VAC takes this a step further, making acceptance available on nearly any digital device—not just terminals, smartphones, or tablets.

For instance, retail tech firm Nobal Technologies uses VAC to accept payments through its smart mirrors. Services like Visa’s buy now, pay later (BNPL) program, fraud management tools, and data analytics solutions can also be integrated into VAC.

eMarketer posits that VAC is another example of how the POS is transforming as tech providers and payment players innovate and bring new transaction experiences to market. Other examples include autonomous checkout and hand-scan payments (biometrics), both of which may threaten traditional POS devices. These methods may reflect a wider push to enable convenient payments anywhere and in any form. And as technology matures, there will likely be new ways to purchase in-person that require little effort on the customers’ end.

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