Lawyer
Promotion
Companies such as Google Wallet are positioning themselves to take control of the payment card industry. The most important part of the payment card industry is customer acquisition, which will soon be controlled by technology and mobile phone companies. In order to maintain control over the payment card industry, Visa needs a successful mobile wallet that will promote Visa products. This can be accomplished with a partnership with Omne.
Consumers would be allowed to use all payment cards on the Omne system, but Visa would be the only brand that is promoted. Over time consumers would use Visa more often and acquire more Visa products because Visa will have the ability to offer customized Visa products through “Wallets” every time a user logs onto the mobile wallet.
Every time a consumer pays with a card that is not the default card, a consumer must log onto their phone and select another card. This means that every time a consumer wants to pay with a competitor’s card, Visa will have the opportunity to offer a Visa product.
Usage Data
Visa must have access to Omne usage information for security reasons. This information can be used to generate a custom profile for every Omne user. When a consumer logs onto their mobile wallet to select a payment card for the Omne card to emulate, Visa will have the ability to collect retailer location information. Visa will be sent usage data when a consumer swipes not only the default card but competitor’s cards as well. The collected information will generate