Visa and Netflix are working together to realize the benefit of higher authorization rates resulting from global issuer lifecycle management of Visa tokens. With the Visa Token Service, card details can be replaced with a unique digital identifier used to process payments without exposing the cardholder’s sensitive account information. For those Visa tokens, issuers around the world can push dynamic updates on lost, stolen or expired credentials to enable a frictionless merchant and customer experience.
Netflix was the first merchant to begin using the Visa Token Service to tokenize its cards-on-file when the companies’ initial pilot began in 2017. Visa also recently announced 20 Visa Token Service acquirer gateway and technology partners who will help scale tokenization around the world. Since the launch of the Visa Token Service in 2014, Visa has added over 60 global token requestors—including mobile and wearable manufacturers, issuer wallets, online merchants, payment service providers and acquirers—from 40 markets onto the token platform.
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