December 01, 2003

Visa Launches Smart Secure Storage

Visa International (San Francisco) has launched Visa Smart Secure Storage (VS3), a specification that enables merchants to add non-payment applications to chip-based payment cards. The specification allows issuers to create pre-formatted"cells." The cells can be offered to merchant partners to populate with applications such as loyalty rewards programs, personal identity services and club memberships. The VS3 specification also allows merchants to share customer data, subject to the issuer's conditions.