Visa announces PayPal-like payment service for U.S. consumers

Credit card giant Visa has announced a new payment service for U.S. consumers set to launch in the second half of 2011. The new offering closely mimics services offered by PayPal, allowing users with a Visa-branded credit, debit, or pre-paid account to transfer money amongst each other. “Consumers in the U.S. will soon be able to receive and send funds to any eligible Visa credit, debit or prepaid account, anywhere in the world,” reads the press release. “By simply entering the recipient?s 16-digit Visa account, email address or mobile phone number, consumers can send funds directly from their bank account to a recipient?s Visa account.” The company has also partnered with payment networks CashEdge and Fiserv, allowing them to integrate

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