GEC NEWS WIREFinancial institutions and merchants can now offer the most advanced payment technology to their ecommerce customers
Visa has integrated its token service into Visa Checkout, the company’s digital check out service used by merchants and consumers globally to make safe, easy payments online and in-app in just a few clicks. The Visa Token Service is a new security technology that replaces sensitive payment account information found on payment cards, such as the 16-digit account number, expiration date and security code, with a unique digital identifier that can be used to process payments without exposing actual card account details.
Visa is also ensuring these account numbers, known as “cards-on-file”, can’t be used for any payment transactions other than those for which they were intended. “We’re pleased that Visa has added tokenization to Visa Checkout in an effort to keep payment details of their account holders safe with advanced security technology,” said Faisal Masud, executive vice president, global e-commerce, Staples, Inc. “Our customers value mobile solutions that let them conveniently, quickly and securely purchase the products they need to run their business.”
“2015 has been a transformative year for payments and security with the extension of so many important security technologies to protect consumers no matter where they are shopping,” said Sam Shrauger, Visa’s senior vice president of digital solutions. “Through new technologies, Visa is bringing added security protections to Visa card account holders, that makes it safer to shop online and in the physical world.”
