Visa explores future of buying without plastic at innovation center
By Patricia Riedman Yeager, Contributing Writer
When most people talk about connected products or the “Internet of Things,” they mean a new generation of devices that can communicate with one another wirelessly. But what if devices could buy stuff, rather than just conveying status or the need for maintenance?
“In many cases, what these devices would like to do with each other is conduct commerce,” posits Bill Gajda, Visa’s Senior VP of Innovation and Strategic Partnerships.
A lot has happened since we last spoke with Gajda in 2014. He oversees Visa’s one-year-old One Market Center, an 112,000-square-foot innovation center at One Market Plaza in San Francisco, a futuristic open-space designed to foster innovation between local tech developers, clients and Visa software engineers.
The company recently came in second to Apple in PYMNTS.com’s first Payment Innovation Index, a ranking of companies in the payment innovation space. The ranking takes into account the number of patents, acquisitions, and investments that up-and-coming payments companies have made in the last year.