The technology means that card details such as the 16-digit account numbers and expiry dates will no longer be stored online when consumers make a purchase. Instead, COF removes sensitive information from merchants’ systems and replaces it with a token.
Visa will start rolling out tokenisation for ecommerce transactions, having formed partnerships with payments gateways and tech companies such as CyberSource, Adyen, Rambus, G+D Mobile Security, SecureCo, Ezidebit, eWAY and Bambora.
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