Visa faces a major point-of-sale marketing challenge as more transactions are completed using smartphones rather than plastic cards.
The brand’s logo currently is featured on 3.3 billion cards around the world, and subsequently has come to represent a valued trust-mark for making secure payments at over 46 million merchant locations in more than 200 countries.
But the growth of mobile payments – with research firm Ovum predicting the international user base for these services will increase from 2.8 billion this year to 9.1 billion in 2021, while transaction values leap from $11.9 billion to $65.7 billion – means that physical debit and cards are staring at an undeniable challenge.
In response, Visa has developed new, and powerful, ways for digital consumers to experience its brand, according to Kimberly Kadlec, the organization’s svp/global marketing. “We're working on sonic and haptic [solutions] – so, sounds and vibrations that occur at point of purchase,” she said.