Visa Inc. (NYSE:V), the global leader in payments, today announced the
opening of One Market, a 112,000 square foot innovation center and
office space at One Market Street in San Francisco. The move provides
Visa technologists, clients, partners and the Bay Area tech community an
innovative space to jointly develop the next generation of commerce
applications.
Visa One Market, lobby view (Photo: Business Wire)
According to ABI
Research, more than 30 billion devices will be wirelessly connected
to the “Internet of Things” by 20201. Additionally, a recent
survey conducted by the Pew Research Center found that 83 percent of
technology experts and engaged Internet users agreed that the Internet
of Things, and embedded, wearable computing, will have widespread
and beneficial effects on people, businesses and communities by 20252.
Visa’s new One Market office and innovation center will be home to more
than 500 Visa employees, including technology experts and developers
whose mission will be to ensure that every Internet connected device,
appliance or wearable computer, can become a secure place for commerce.
“Realizing our vision to remain the best way to pay and be paid – for
everyone, everywhere – requires a commitment to collaborate and foster
innovation,” said Charlie Scharf, chief executive officer, Visa Inc.
“One Market will enable our product developers to directly engage with
clients and partners in the tech community, and extend the security and
simplicity of Visa payments to billions of connected devices and new
consumer applications.”
The centerpiece of One Market will be an innovation center designed to
provide an immersive experience for clients and partners, where they can
interact with Visa subject-matter experts, and explore new products and
technologies that advance the payment experience in areas such as
mobile, security and cloud-based technologies. The space has been
designed to encourage dynamic interaction and real-time experimentation,
and is expected to attract Bay Area technology talent who want to
develop the next generation of commerce solutions by working with the
industry leader in payments.
“I am excited that Visa has chosen San Francisco as home for its new
technology and innovation center,” said Mayor Edwin M. Lee. “With our
world-class, diverse workforce, San Francisco is an ideal hub of
innovation for Visa and their many clients and partners.”
Today, in celebration of the grand opening of One Market, Visa is
hosting clients, merchants, technology partners and press from around
the globe to showcase innovations relevant to the future of commerce. As
part of the event, Visa will launch a new online payment service called
Visa Checkout, which makes purchases from a desktop, mobile device or
from within a mobile app intuitive and simple. Please join us via web
cast to
view the event live.
About Visa
Visa is a global payments technology company that connects consumers,
businesses, financial institutions, and governments in more than 200
countries and territories to fast, secure and reliable electronic
payments. We operate one of the world’s most advanced processing
networks — VisaNet — that is capable of handling more than 47,000
transaction messages a second, with fraud protection for consumers and
assured payment for merchants. Visa is not a bank and does not issue
cards, extend credit or set rates and fees for consumers. Visa’s
innovations, however, enable its financial institution customers to
offer consumers more choices: pay now with debit, ahead of time with
prepaid or later with credit products.
1 Internet of Everything Research Project, May 2013
2
Pew Research Internet Project, May 2014
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Copyright Business Wire 2014