San Francicso, CA (May 13, 2020) \u2013 Visa Inc. is pleased to announce that 28 new partners will be joining Visa Token Service<\/a> as credential-on-file (COF) token requestors. These new partners will help make digital transactions more secure by tokenizing both one-time and recurring payments made with Visa credentials. Tokenization replaces a cardholder\u2019s 16-digit Visa account number with a token that only Visa can unlock, protecting the underlying card number from fraudsters.<\/p>\n New partners joining Visa Token Service include acquirer gateway and technology partners Assist, Aurus, BlueSnap, Braspag, Bambora, DPO PayGate, eComCharge, Fat Zebra, eGHL, Infinitium, iPay88, Iveri, LiqPay\/PrivatBank, Mail.ru, Moneris, One Inc., Omise, Payture, Payvision, Portmone, RBK.Money, Spreedly, Tickets Travel Network EESTI, Tranzzo, WalletDoc, WayForPay, Windcave, and Yandex.Money. Once certified, these 28 partners will be able to tokenize credential-on-file digital payments on behalf of their merchant and payment clients for an additional level of security.<\/p>\n In addition to enhancing security, tokenization also helps reduce friction in the payment process, because customers do not have to manually update stored card information if their Visa card is lost, stolen or expires. Instead, financial institutions can automatically update expired or compromised payment credentials. This can reduce missed payments for merchants, and help consumers avoid unwanted late payment fees or charges.<\/p>\n More than two-thirds (69%) of US consumers choose to store a card-on-file or have recurring billing set up with merchants1. Increasingly, these merchants are choosing tokenization to make their customers\u2019 online shopping and recurring digital payments less susceptible to fraud, with Visa adding more than 150 token requestor partners to Visa Token Service in the last five years.<\/p>\n \u201cConsumers are shifting more rapidly than ever to digital-first commerce, no matter what they\u2019re buying, and tokenization is one of the most effective tools Visa uses to fight fraud and improve the digital payment experience,\u201d said Ansar Ansari, senior vice president, digital payment products, Visa. \u201cWe\u2019ve seen a fraud reduction rate of 26% for digital transactions processed through Visa Token Service compared to traditional online card transactions2. That\u2019s impressive, and these new partners will only add to the momentum.\u201d<\/p>\n The expansion of Visa Token Service comes as the service has achieved rapid growth for its credential-on-file (COF) tokenization efforts, with more merchants and retailers moving to adopt the secure technology. Since the launch of the Visa Token Service in 2014, Visa has added more than 150 global token requestors\u2014including mobile and wearable manufactures, issuer wallets, online merchants, payment service providers and acquirers\u2014from 137 markets onto the token platform. Visa recently announced participants in Visa Token Service (VTS) are estimated to process a combined digital payment volume of $1 trillion3, marking a significant opportunity in its efforts to make digital payments more secure.<\/p>\n The addition of these new acquirer gateways and token requestors will bring additional scale globally and support Visa\u2019s commitment to security and convenience of online and mobile payments from both traditional eCommerce as well as credential-on-file transactions.<\/p>\n \u201cAssist Belarus is interested in providing its customers with the best services in the field of Internet acquiring,\u201d said Vyacheslav Senin, Director, Assist Belarus. \u201cWe\u2019re proud to be partnering with Visa, leveraging Visa Token Service in order to provide a new level of protection for digital payments. The technology will help protect transactions by replacing confidential payment information with a unique digital token.\u201d<\/p>\n \u201cAurus has been working with Visa to introduce features and products to Aurus Merchants and consumers that help shoppers enjoy simple and secure checkouts along with enhanced security,\u201d said Rahul Mutha, Founder and CEO of Aurus. \u201cVisa Token Service is one such feature that helps merchants protect the underlying sensitive payment information, thereby leveraging the AurusPay unified commerce that provides these powerful touchpoints for a merchant to transact with their consumer.\u201d<\/p>\n \u201cVisa Token Service addresses three key needs of ecommerce merchants: increased payment conversions, greater security and reducing friction from the card user experience,\u201d said Ralph Dangelmaier, CEO, BlueSnap. \u201cWe are excited that it will now be part of BlueSnap\u2019s All-in-One Payment Platform.\u201d<\/p>\n \u201cBambora is pleased to partner with Visa to help bring the Visa Token Service to market for businesses and consumers,\u201d said Anne McDonnell, APAC Managing Director, Bambora. \u201cAs consumers, many of us have experienced the challenge of updating card details in multiple platforms when a card becomes lost or expired. This latest innovation by Visa will help Bambora merchants increase authorization rates, while providing consumers with a more seamless and secure customer experience \u2013 it\u2019s a win-win.\u201d<\/p>\n \u201cWe at Braspag believe that security is a key element in the payment experience,\u201d said Rog\u00e9rio Signorin, General Manager, Braspag. \u201cCombining security, convenience and simplicity with innovation is part of our mission and tokenization helps to deliver these to the e-commerce market. There are still many opportunities to expand digital business in Brazil and around the world and Braspag will certainly continue to contribute to the growth of this sector.\u201d<\/p>\n \u201cWe are excited to join the Visa Token Service program as a Token Requestor \u2013 Token Service Provider,\u201d said Alexander Mihailovski, CBDO, eComeCharge LLC. \u201cParticipating in the program will allow us to make payment acceptance in e-commerce more convenient, fast and secure for all participants of the transaction. We are pleased to become a Visa partner.\u201d<\/p>\n \u201cSince day one, Fat Zebra has been about building a payments ecosystem with partners who can accelerate our customers\u2019 ambitions. We\u2019ve always been committed to protecting every dollar our merchants process with us by offering world-class fraud solutions and tokenization products,\u201d Said Pred Dragila, CEO, Fat Zebra. \u201cContinuing to deepen our partnership with Visa gives us even more confidence in our merchants\u2019 ability to deliver a great customer experience \u2013 all over the world. Fat Zebra merchants who use our implementation of the Visa Token Service can start protecting their customers\u2019 data right away. The speed and accuracy is a huge deal for our merchants.\u201d<\/p>\n \u201cWith increasing use of mobile smart devices and mobile commerce, new payment technologies are streamlining payment processes to deliver the best customer experiences that are seamless, simplified and secured,\u201d said Danny Leong, Group CEO, eGHL. \u201cGHL is honored to partner with Visa on VTS adoption in Southeast Asia, helping to transform the banking and e-commerce landscape in the region. Once online, over 2000 eGHL merchants from various industries will benefit from the technology.\u201d<\/p>\n \u201cInfinitium is pleased to act as a Visa Token Requester-Token Service Provider.\u201d said Ho Ching Wee, Founder and Group Chief Executive Officer, Infinitium. \u201cThis partnership with Visa allows Infinitium to support Visa VTS as well as enhance our various payment systems for acquirers and merchants. Infinitium is committed to powering digital payment convergence and driving impact to the world with more secure and seamless services.\u201d<\/p>\n \u201cSecuring transactions between our merchants and online shoppers has always been our top priority,\u201d said Mr. Lim Kok Hing, Co-Founder and CEO of iPay88. \u201ciPay88 is proud to be a partner of Visa Token Service and work together in ensuring a more secure, optimized and seamless payment experience for our customers. We believe in digitalization and are responsible for providing a secure and optimized payment ecosystem to our merchants.\u201d<\/p>\n \u201cAssisting merchants to achieve the best possible security is always a priority at iVeri,\u201d said Barry Coetzee, CEO, Iveri Payment Technology. \u201cSo leveraging Visa Token Service to provide an end-to-end tokenized transaction was an easy decision for us.\u201d<\/p>\n \u201cKeeping cardholder data secure while ensuring our merchants have peace of mind when using Moneris Vault for card-on-file requirements has always been our priority,\u201d said Patrick Diab, Chief Product Officer at Moneris Solutions Corporation. \u201cVisa Token Service increases the layers of security within Moneris Vault. The ability to request a token from Visa and then provide that within Moneris allows merchants to benefit from the combined security and value added services offered by Moneris and Visa.\u201d<\/p>\n \u201cWe are excited to offer the Visa Token Services to Omise merchants across Southeast Asia in the future,\u201d said Anuchit Chitpirom, Chief Operating Officer, Omise. \u201cThis move reinforces our commitment towards consumer and merchant protection, as well our ability to provide a better, more seamless consumer shopping experience. Dynamic updates of credentials when a card is lost, stolen or expired helps ensure uninterrupted service for end consumers and improved authorization rates for our merchants.\u201d<\/p>\n \u201cOne Inc. is excited to support and offer Visa Token Service to our customers in the insurance industry,\u201d said Avin Arumugam, Chief Product Officer, One Inc. \u201cFor insurance companies, payments are the primary touchpoint in the policyholder\u2019s journey, either creating tremendous loyalty to a brand or negatively impacting retention. By collaborating with Visa, we\u2019re enabling our customers to be confident in both the highest level of security and a modern, frictionless payments experience.\u201d<\/p>\n \u201cOnline payments have become an indispensable tool for businesses and it is very important to make them as accessible and secure as possible, both for buyers and sellers. At Payture, we are confident that tokenization will continue to be an integral part of the digital payment experience,\u201d said Anna Salomatova, Chief Commercial Officer, Payture. \u201cWe are pleased to become a part of the global industry transformation process and are excited to be one of the IPSPs implementing Visa Token Service in Russia. We believe that this is a big step for the entire eCommerce community in Russia and the CIS, and will make online payments more convenient and secure for all market players.\u201d<\/p>\n \u201cBy adding Visa\u2019s network tokens, Payvision enhances its existent tokenization solution with an additional layer of security for effective fraud prevention,\u201d said John Snoek, Chief Product Officer, Payvision. \u201cThrough VTS we enable a no-effort option for our merchants to provide more secure and seamless payments and a simplified shopping experience. E-commerce and in-app channels, especially for \u2018Card-on-file\u2019 transactions, will see a higher authorization rate and improved conversions.\u201d<\/p>\n \u201cPortmone.com is excited to support Visa Token Service and offer it to merchants, users and bank-partners in Ukraine and other markets across the CIS SEE region,\u201d said Sviatoslav Komakha, CEO, portmone.com. \u201cRegular high-frequency payments in two clicks is the core of our business model and VTS fits perfectly here with an improved card on file experience, better security and higher conversion rates.\u201d<\/p>\n \u201cPrivatbank is proud to launch card-not-present tokenization that focuses on two important pillars: user experience improvement and security level increase,\u201d said Sergiy Kharitich, Chief Digital Officer, Privatbank. \u201cOur company is sure that this technology will help to develop eCommerce faster and will have significant positive impact on consumers and all eCommerce industry players.\u201d<\/p>\n \u201cRBK.money aims to provide only the best solutions for the developing digital payments market,\u201d said Denis Burlakov, CEO, RBK.Money. \u201cSeamless approaches to financial services are a must nowadays, and we\u2019re glad to join Visa Token Service to give Russian merchants new payment technology which can increase transaction approval rates, improve security and the overall customer experience.<\/p>\n \u201cSpreedly is very pleased to join the Visa Token Service ecosystem,\u201d said Justin Benson, CEO, Spreedly. \u201cOur support will help accelerate the adoption of this valuable offering for merchants, enabling them to drive greater business flexibility, revenue and security through our payment orchestration services.\u201d<\/p>\n \u201cAt Tickets Travel Network EESTI we have always regarded payment security and continuous improvement of the user experience as of paramount importance,\u201d said Ihor Hrabovych, Management Board Member, Tickets Travel Network EESTI. \u201cThat is exactly why we\u2019re leveraging Visa\u2019s tokenization technology to increase information security.\u201d<\/p>\n \u201cTranzzo is excited to support Visa Token Service. By combining Visa\u2019s solution with our data protection tools, we\u2019re enabling merchants to reap the benefits of tokenization,\u201d said Yan Klochko, CEO Tranzzo LTD. \u201cOur integration with VTS will bring merchants an extra level of security and enhanced customer experience, while making digital payments on their web platform even more convenient.\u201d<\/p>\n \u201cWalletdoc is excited to support and offer Visa Token Services to our business merchants,\u201d said Dan Wagner, Joint CEO, walletdoc. \u201cThrough our partnership with Visa, Walletdoc aims provide merchants with improved authorization rates, automatic card expiry renewal and increased security with little, if any, additional work on their part.\u201d<\/p>\n \u201cAs a popular PSP in Russia, Yandex.Checkout is proud to offer clients heightened security and reduced friction in the customer experience through our extended partnership with Visa,\u201d said Yulia Gorelova, head of payment business at Yandex.Money (parent company for Yandex.Checkout). \u201cAs a token requestor in Russia, we expect to provide new opportunities for merchants in the region by reducing friction in payment processes and card credentials storage.\u201d<\/p>\n Visa Inc. (NYSE: V)<\/em> is the world\u2019s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network \u2013 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\u2019s relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device, 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<\/a>.<\/p>\n SOURCE: Visa Inc.<\/em><\/p>\n Tags: payment<\/a> New partners will help Visa protect millions of additional digital payments from fraudsters and reduce friction for merchants and consumers San Francicso, CA (May 13, 2020) \u2013 Visa Inc. is pleased to announce that...<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/18382"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=18382"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/18382\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=18382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=18382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=18382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Comments from Partners<\/h4>\n
About Visa <\/b><\/h4>\n
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