By expanding access to VTS to new partners, including technology companies, device manufacturers, issuers, Internet of Things (IoT) companies, wallet providers, merchants and others, Visa will be able to offer secure digital payment services on any device to the market.
The Visa Token Service standard is a security technology that replaces cardholder information, with a unique digital identifier that can be used for payment without exposing a cardholder’s more sensitive account information.
Visa’s token service provider program expands the market to other companies to develop new, secure digital payment services and ensures consistency envisioned in the EMVCo token standards. Giesecke and Devrient, Gemalto and Inside Secure are the initial partners participating in Visa’s token service provider program to offer new expanded access to VTS.
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