Visa Unveils New Partners on Tokenization to Help Increase Payment Security and Reduce Effects of Data Breaches
Visa Inc. (NYSE:V) today announced the commercial expansion of the Visa Token Service for credential-on-file (COF) token requestors, marking a major milestone towards further securing consumer payments in the digital channel.
With this expansion, acquirer gateway and technology partners Adyen, AsiaPay, Braintree, Checkout.com, Cherri Tech, CyberSource, Elavon, Ezidebit, eWAY, Fit-Pay, Giesecke & Devrient, PayPal, Payscout, Rambus, SafeCharge, SecureCo, Square, Stripe, Worldpay and YellowPepper are or will soon be able to tokenize credential-on-file digital payments on behalf of their merchant and payment clients.
Built on top of the EMVCo Payment Tokenization Standard, the Visa Token Service offers another layer of security by replacing sensitive cardholder information, such as personal account numbers and expiration dates, with a unique digital identifier (a “token”) that can be used for payment without exposing a cardholder’s more sensitive account information. In addition to enhancing security, expired or compromised payment credentials can be seamlessly updated in the background by the financial institution, eliminating a significant point of friction for consumers and merchants.
Merchants also get the added security protection of being shielded from data breaches that occur elsewhere in the ecosystem since the Visa card number is replaced with a token unique to the merchant or gateway acquirer partner.
“Today, we welcome 20 partners into the Visa Token Service who will help scale tokenization to their thousands of merchant clients and millions of customers around the world. This opens up a world of possibilities for our merchants and partners to further evolve and innovate in digital payments,” said Ansar Ansari, senior vice president, digital payment products, Visa. “Making digital transactions even more secure is one of Visa’s biggest priorities. Working with Visa, these partners will help secure cardholder data and make digital payments safer, resulting in frictionless digital commerce experiences for consumers.”
“Adyen is excited to be the first acquirer in the payments ecosystem with in-market solutions to support and offer Visa Token Service to our global merchants,” said Kamran Zaki, president, North America, Adyen. “In addition to improving security, Visa network tokens through Adyen will allow our merchants with cards on file to reduce involuntary churn and improve authorization rates without any additional work on their part.”
“Worldpay is committed to protecting the integrity of every transaction and this solution integrates well with our own security and tokenization products,” says Asif Ramji, chief product officer, Worldpay. “By forming strong relationships with companies like Visa to bring global scale to every merchant, we ensure their ability to deliver positive customer experiences. Importantly, Worldpay merchant partners who take advantage of our implementation of the Visa Token Service do not need to wait for individual certification and approval to begin protecting their customers’ data.”
“The integration of the Visa Token Service within the CyberSource Token Management Service is an important milestone in our quest to enable clients to create new digital commerce experiences and deepen consumer engagement across channels,” said Andre Machicao, senior vice president, CyberSource, a Visa solution. “The powerful integration of these services provides merchants additional value and simplifies access to future Visa Token Service enhancements, especially in the area of credential life cycle management. Dynamic updates of credentials when a card is lost, stolen or expired will help our clients improve the consumer experience and lift conversion.”
Since the launch of the Visa Token Service in 2014, Visa has added over 60 global token requestors—including mobile and wearable manufactures, issuer wallets, online merchants, payment service providers and acquirers—from 40 markets onto the token platform. The addition of 20 merchants, acquirer gateways and token requestors will bring scale globally and support Visa’s commitment to security and convenience of online and mobile payments from both traditional eCommerce as well as credential-on-file transactions.
About Visa Inc.
Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit About Visa, visacorporate.tumblr.com and @VisaNews.
Sheerin Salimi, 415-805-5923
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Tilaa tiedotteet sähköpostiisi
Haluatko tietää asioista ensimmäisten joukossa? Kun tilaat mediatiedotteemme, saat ne sähköpostiisi välittömästi julkaisuhetkellä. Tilauksen voit halutessasi perua milloin tahansa.
Lue lisää julkaisijalta Business Wire
Bartek Ingredients Expands Leadership Team22.3.2019 01:35:00 EET | Tiedote
Bartek Ingredients Inc. recently completed a 4,000 ton/year capacity expansion for its malic and food-grade fumaric acid production facility, and today it announces the expansion of its leadership team, with the hiring of Jeff Billig as Vice President of Marketing & Business Development and Heinrich G. Schaefer as International Sales Director. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190321005785/en/ The global leader in malic and fumaric acid ingredients expands its leadership team. (Photo: Business Wire) Bartek’s investment in both its team and facilities reinforces its position as the leader in malic and fumaric acid globally and aligns with its mission to facilitate growth and increase global reach to better serve existing customers and markets while opening up new ones. Bartek’s addition of Billig and Schaefer lays the foundation for additional resource investment in the near future while rapidly increasing its sa
Hansard Global Plc Selects SaaS-Based Majesco LifePlus Solutions to Transform Their Business21.3.2019 23:30:00 EET | Tiedote
Majesco (NASDAQ:MJCO), a global leader of cloud core insurance software, today announced that Hansard Global plc, a FTSE listed business, selected Majesco Life IllustratePlus, Majesco Life AdminPlus, and Majesco Life DistributionPlus to support its ambitious growth plans. Hansard Global plc, which is headquartered on the Isle of Man, provides innovative financial products and services for financial advisors and their international clients, leveraging the latest technology to deliver an award-winning online proposition and best-in-class service. This is the third UK win announced in the last 12 months, following the launch of the SaaS offering in February of 2016 and has received a hugely positive response from the industry, endorsed by numerous industry awards. Majesco has established itself as a market leader in cloud-based core insurance solutions within the individual life and pensions sector. Ollie Byrne, Chief Strategy Officer at Hansard Global plc, commented “Our current system h
ResMed to Host an Investor Meeting on April 4, 201921.3.2019 23:05:00 EET | Tiedote
ResMed (NYSE: RMD) (ASX: RMD) today announced it will host an investor meeting on Thursday, April 4th to discuss the Company’s recent acquisitions, existing joint ventures and strategy pertaining to respiratory care and out-of-hospital software. Additional information regarding the investor meeting, including the specific time and webcast link for the presentations, will be made available approximately one week prior to the event and may be accessed by visiting http://investor.resmed.com. Space for the event is limited and therefore in-person attendance is available by invitation only. Presentations at the investor meeting will be transmitted by a live webcast, which may be accessed by visiting http://investor.resmed.com. A replay of the webcast will be accessible on our website and available approximately two hours after the webcast. In addition, a phone replay will be available approximately two hours after the webcast and will be accessible for approximately one year thereafter. Abo
KILL OnMiners Mining Rigs Offering the Biggest Hash-Rate in the Market21.3.2019 22:53:00 EET | Tiedote
Business Wire requests that NewsItemId: 20190320005122, OnMiners press release "OnMiners Mining Rigs Offering the Biggest Hash-Rate in the Market" issued March 20, 2019 be removed. View source version on businesswire.com: https://www.businesswire.com/news/home/20190320005122/en/ Contact information Business Wire, France +33 (0) 1 56 88 29 40
KILL OnMiners Changing the Game in Cryptocurrency Mining21.3.2019 22:51:00 EET | Tiedote
Business Wire requests that NewsItemId: 20190318005779, OnMiners press release "OnMiners Changing the Game in Cryptocurrency Mining" issued March 18, 2019 be removed. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190318005779/en/ View source version on businesswire.com: https://www.businesswire.com/news/home/20190318005779/en/ Contact information Business Wire, France +33 (0) 1 56 88 29 40
Her Excellency Sheikha Hind Attends International Universities Arabic Debating Championship Closing Ceremony21.3.2019 18:03:00 EET | Tiedote
Her Excellency Sheikha Hind bint Hamad Al Thani, Vice Chairperson and CEO of Qatar Foundation (QF), attended the closing ceremony of the fifth edition of the International Universities Arabic Debating Championship (IUDC) organized by QatarDebate, a member of QF. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190321005482/en/ Princess Sumaya University for Technology in Jordan takes First Place (Photo: AETOSWire) The championship – held under the patronage of Her Excellency Sheikha Hind bint Hamad Al Thani – took place at Qatar National Convention Centre from March 16-20, 2019, and included 107 teams from 51 Arab and non-Arab countries. During the ceremony, Her Excellency Sheikha Hind presented the winners with their awards. The debate team from Princess Sumaya University for Technology in Jordan took first place in this year’s edition of IUDC. The boys’ team from Qatar University was awarded second place, while the team from
Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.Tutustu uutishuoneeseemme