News

28 new partners to join Visa Token Service for digital payment security

Thursday 14 May 2020 10:26 CET | News

Visa has revealed that 28 new partners will be joining Visa Token Service as credential-on-file (COF) token requestors. 

 

Via these partnerships, the aim is to make digital transactions more secure by tokenizing both one-time and recurring payments made with Visa credentials. Tokenization replaces a cardholder’s 16-digit Visa account number with a token that only Visa can unlock, protecting the underlying card number from fraudsters. In addition, tokenization helps reduce friction in the payment process, because customers do not have to manually update stored card information if their Visa card is lost, stolen, or expires. Instead, financial institutions can automatically update expired or compromised payment credentials. 

New partners joining Visa Token Service include acquirer gateway and technology partners Assist, Aurus, BlueSnap, Braspag, Bambora, DPO PayGate, eComCharge, Fat Zebra, eGHL, Infinitium, iPay88, iVeri, LiqPay/PrivatBank, Mail.ru, Moneris, One Inc., Omise, Payture, Payvision, Portmone.com, RBK.Money, Spreedly, Tickets Travel Network EESTI, Tranzzo, walletdoc, WayForPay, Windcave, and Yandex.Money. Once certified, these 28 partners will be able to tokenize credential-on-file digital payments on behalf of their merchant and payment clients for an additional level of security.

The addition of these new acquirer gateways and token requestors will bring additional scale globally and support Visa’s commitment to security and convenience of online and mobile payments from both traditional ecommerce and credential-on-file transactions.


More: Link


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Visa, Token, partnership, digital payments, security, tokenization, credentials, financial institutions, cards, acquirer gateway, card theft, identity theft, ecommerce, online payments, mobile payments, security
Categories: Securing Transactions | Digital Identity, Security & Online Fraud
Countries: World
This article is part of category

Securing Transactions






Industry Events