Expanding upon our initiative to bring convenient and secure payments to wearable devices, we're pleased to announce a strategic partnership with Visa and the launch of our Coin Developer Program with MasterCard support.
In a previous update, we shared our partnership with MasterCard to power payments in smart devices. Starting last week, we are officially partnering with Visa through the Visa Ready Program. By working with Visa and MasterCard, which comprise 82% of global payment network transactions, Coin provides payment expertise and technical resources to device manufacturers for easy integration of payment functionality.
Through our partnerships with MasterCard and Visa, we are now able to offer these payment solutions to wearable partners in the form of the Coin Developer Program. Through the Coin Developer Program, we make it easy for device manufacturers to implement secure NFC payments into their products. The Coin Developer Program provides the required software, hardware, certification, and security maintenance that is approved by MasterCard and Visa.
Becoming a member of the Coin Developer Program ensures that wearable devices are secure and compatible with all NFC enabled payment terminals. Some of our device partners, such as Chronos and Moov, have already started using the Coin Developer Program and had the opportunity to showcase their devices with payments powered by Coin at the 2016 Mobile World Congress.
We're making payments hassle-free for wearable companies through our 360° turnkey solution. Device manufacturers can start integrating secure NFC payments into their products by applying to join the Coin Developer Program here.