This may mean the end of waiting for text messages to authorize transactions or various activities on your bank account. Visa wants to use the phone for this purpose, and the new functions may be a real breakthrough in the use of electronic banking.
Changing the authorization method can significantly increase customer convenience and relieve the burden on bank hotlines. Confirming identity is one of the most common reasons for contacting a bank, and new technologies can simplify this process.
A phone call instead of a text message from the bank. Visa is working on a new system
Introducing solutions that will eliminate the need to receive SMS messages and rewrite or enter the codes contained in them is not only convenient, but also a step towards greater security and modernity in financial services.
See also: Mastercard announces a payment revolution. We can say goodbye to plastic cards
As BezPrawk.pl explains, Visa is introducing several innovations, such as Tap to Add Card, Tap to Confirm, Tap to P2P, Tap to Activate and Tap to Phone. They allow, among others: to quickly add a card to a digital wallet, securely confirm transactions or turn your smartphone into a payment terminal.
Bank customers will be most interested in the Tap to Confirm feature, which Visa explains can enable seamless security enhancements to confirm transactions and update accounts.
No more annoying text messages from the bank? This could be a breakthrough
In turn, for small sellers – as explained by BezPrawk.pl – the Tap to Phone functionality may be extremely useful, its aim is to help sellers and their settlement partners accept contactless payments without the need to use additional equipment.
This means they will no longer have to invest in additional equipment. There are thousands of examples of such situations – at the market, in the vegetable field, during a street collection or, for example, at a concert when a foreign band comes to Poland.
See also: Hundreds of millions of zlotys per quarter. NBP warns about fraudulent transactions
As BezPrawk.pl reminds, some functions are already available, including: on Apple devices. Visa officially indicates Europe as a region supporting the Visa Tap platform, and full implementation in Polish banking may take place as early as next year.
The Polish payment market already offers many functions similar to Visa Tap, mainly thanks to BLIK. In the past, Poland tried to build its own systems, such as PolCard.
