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.
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