Visa to roll out credential-on-file tokenisation

Tuesday 16 October 2018 11:46 CET | News

Visa has launched credential-on-file (COF) tokenisation, a tech set to reduce ecommerce fraud, while updating customers’ details online every time they get a new card.

The technology means that card details such as the 16-digit account numbers and expiry dates will no longer be stored online when consumers make a purchase. Instead, COF removes sensitive information from merchants’ systems and replaces it with a token.

Visa will start rolling out tokenisation for ecommerce transactions, having formed partnerships with payments gateways and tech companies such as CyberSource, Adyen, Rambus, G+D Mobile Security, SecureCo, Ezidebit, eWAY and Bambora.

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Keywords: Visa, tokenization, credential on file, cards, Cybersource, Adyen, Rambus, G+D Mobile Security, SecureCo, Ezidebit, eWAY
Countries: World