Visa is a prime global technology that connects with businesses, customers, governments, as well as financial institutions and helps in securing digital currency which is reliable, fast as well as secure. Visa is not a bank, as it does not extend credit or issues cards, nor does it set rates or fees for its customers. Visa is very innovative and offers its customers a wide range of choices where payments could be made with debit (much ahead of time) either prepaid or with credit facility at a later stage. The most advanced technologies in regards to the processing networks is VisaNet. This has the capability to handle much more than 10,000 transactions per second. It comes with the latest fraud protection features for its customers as well as offering guaranteed payments to the merchants.
How it helps the government?
With its advanced security features, fraud protection and its fast and reliable network, this technology would help build a stronger and much more efficient business. This has also enabled the government to be more user-friendly as well as a cost-effective option. This has enabled the government to become much more responsive to its citizens.
In the next few years, digital currency will drastically transform government payments and help save a lot of taxpayers’ money. This could run into millions of U.S. dollars. The positive features of digital currency on various aspects of government payments as well as purchasing, was highlighted at one of the briefings in Washington D.C. by Douglas Michelman, global head, Corporate Relations. Visa Inc. has stated that the plans were to implement the technology at the state level, local as well as federal agencies, in order to expand the whole electronic payment mode and thereby improve efficiency, transparency as well as accountability.
Launch of Currency of Progress:
Visa has announced the launch of the Currency of Progress and would be introduced through an entire series of advertisements across the nation. This global payment technology will help make huge advances with respect to the economic empowerment, as well as efficient business transactions worldwide. The Currency of Progress would use real-life situations in order to demonstrate to the public the usage of digital currency, and how the technology has advanced from cash & checks to the electronic payment mode. It would also highlight the security aspects which are one of the strongholds of visa.