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Visa brings Visa Ready Program to the IoT

The first IoT companies to join the Visa Ready Program will focus on payments for wearables and automobiles.

Visa announced it is expanding its Visa Ready program to include Internet of Things companies, such as manufacturers of wearables, automobiles, appliances, public transportation services, clothing and almost any other connected device, according to a press release.

Emerging IoT companies will join mobile device manufacturers, including mobile point-of-sale acceptance providers, mobile NFC-enabled device manufacturers and other technology partners in the Visa Ready Program.

The first IoT companies to join the Visa Ready Program will focus on payments for wearables and automobiles. Initial Visa Ready partners include Accenture, Coin, Giesecke & Devrient, Fit Pay and Samsung, who will work with device manufacturers including Chronos and Pebble, to help embed secure payments in consumer devices and have those devices certified as Visa Ready, according to the announcement.

"More and more, consumers are relying on smart appliances and connected devices to make their lives easier," said Jim McCarthy, executive vice president of innovation and strategic partnerships at Visa. "By adding payments to these devices, we are turning virtually any Internet connection into a commerce experience — making secure payments seamless, and ultimately more accessible, to merchants and consumers."