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Digital Identity, Security & Online Fraud

Eleven European partners to implement Visa Token Service

Tuesday 21 May 2019 | 01:26 PM CET

Visa has announced that 11 European partners will implement the Visa Token Service (VTS) to secure shopping experience for customers.

New partners adopting the program include Adyen, Cardstream, Computop, Datatrans, HiPay, Ingenico/Bambora, Monext, Safecharge, Secure Trading, Wirecard and Worldline. Merchants who integrate with VTS through Visa’s new partners do not need to wait for individual certification approval and can launch their token-on-file initiative immediately.

In addition to boost security for customers who store payment details on file with their favourite merchant, expired or compromised payment credentials can be updated in the background by the financial institution, eliminating a point of friction for consumers and merchants.

Visa Token Service replaces consumer account information such as the Primary Account Number (PAN) and expiry information with a unique digital identifier or “token” so that sensitive data is never shared. Moreover, tokens can be restricted to work only with a specific merchant, adding yet another layer of security to digital payments.

According to Secure Trading, the Visa Token Service will help them ensure the security of the funds they process for merchants. By removing the friction point of handling sensitive data on their gateway, the company will be able to fortify their systems against fraud risks.

The service offer marketplace support, which means that when an ecommerce marketplace joins Visa Token Service it can request and store tokens for customers that can then be used across any of the marketplace’s sub-merchants.

VTS tokens can now be connected to a common identifier relating to a payment account without compromising the underlying account information. This common identifier, called a Payment Account Reference (PAR), makes it easier for merchants to offer benefits such as loyalty, discounts and other services if the consumer opts in to the merchant plan.

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