Visa has announced that it is working on a service to let Visa holders send each other person to person payments, PCWorld says.
If your bank participates in the program, you'll be able to send money to someone using their Visa account number, email or phone number.
This is an assault on PayPal and startups that are trying to democratize payments like Square and Venmo. Person to person cashless payments are a huge opportunity that is finally starting to open up and Visa wants a piece of the action.
They clearly have a huge network, but we think one of the things that will be very important in this space is the user experience, because these things have to be very convenient, so who knows if Visa will nail that.
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