Posted on August 9, 2019
Visa is moving toward discontinuing its Visa Checkout service sometime next year, according to reports. It appears the company’s service, which was introduced in 2013 and competed with services like PayPal, will be shuttered in favor of a new EMV SRC-based service.
In 2017, Google Pay added Visa Checkout support, which allowed users to make purchases using Visa cards that were associated with Google Pay accounts. However, information about Visa Checkout has been removed from the “Supported accounts & services” section of a Google Pay support page, leaving only PayPal as a supported service.
When asked about the change, Google said Visa was in the process of terminating the service to migrate to the new one. It is not known whether the new service will be part of Visa Checkout or something completely different.
The new service will start appearing to Visa Checkout customers in a few months in a small number of select markets. Visa said it would fully support Visa Checkout during the transition, which likely will not be completed until 2020.
Only the direct Google Pay/Visa Checkout integration will be shut down; Google will continue to work with bank- and credit union-issued Visa cards.
In other Visa news, the company recently announced that its joint venture with Billtrust, called the Business Payments Network (BPN), was going to have a new user. JPMorgan said it would use the service to streamline the delivery of electronic B2B payments for its commercial card clients.
Launched jointly last November, the BPN is an open buyer/supplier payments platform that was created, according to Billtrust CEO Flint Lane, as a “better highway to drive their payments on.” That highway, Lane added, provides instant, friction-free payments access between buyers and suppliers, while guaranteeing the privacy and security of the payment data.
JPMorgan’s move to sign onto the BPN, according to a joint release by Visa and Billtrust, will allow JPMorgan’s customers to tap into the BPN’s connected platform of suppliers to send and receive digital payments more quickly and efficiently.