Visa International said it is working with Carnegie Mellon University to develop an on-line payment system to allow for purchases of low-value items over computer networks.

The Pittsburgh university - known for its advances in digital library technology - has been working for more than four years to create an electronic commerce system allowing open and secure access by merchants and consumers.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.