Visa is upgrading its payWave contactless payments platform to allow people to use their contactless cards around the world, it has been reported.
The card network is changing the system to a global specification called Visa Contactless 2.0, according to finextra.com.
Elizabeth Buse, global head of product at Visa, told the news provider: "Visa has developed a global contactless platform built on the experience of implementing programs in multiple countries and regions.
"This new specification will allow card issuers and vendors globally to implement contactless solutions that are globally interoperable while also providing advanced EMV-based security."
According to Visa, the new global specification will result in PayWave transactions being processed more quickly and credit, debit and prepaid payment platforms can be embedded in mobile phones.
In related news, French banks, telcos and technology vendors that launched a contactless mobile payments system have reported that more than 90 per cent of customers are satisfied with the service.
