Visa Brings CyberSource Token Management Service to Clients Globally
February 22 2018 - 7:00AM
Business Wire
Provides a 360-Degree View of Customer Payments
Across Channels and Payment Types
Visa (NYSE: V) today introduced Token Management Service, a
solution designed to unify management and secure customer payment
data. Token Management Service enables an integrated view of
payment preferences and behaviors across a merchant’s commerce
platforms, processing environments, geographies, payment types and
card brands.
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Token Management Service: Smarter Tokens
for a Connected Digital World (Photo: Business Wire)
Seventy percent of the world, or more than 5 billion people,
will be connected via mobile device by 20201, creating the need for
merchants to provide consumers with seamless digital payments that
work securely, anywhere and on any device. Laying a foundation for
this transition, Visa has developed Token Management Service, part
of Visa’s CyberSource payment management platform.
Different token services deployed across multiple digital
commerce environments create channel silos, preventing merchants
from fully understanding payment behavior across their various
customer touchpoints. Token Management Service helps enable
merchants to unify payment token implementation in order to provide
simple, innovative and seamless purchasing experiences. For
example:
- Customers can buy goods online, then
pick them up in store, or make a purchase online and return items
in-store.
- Merchants can augment their customer
engagement strategy with tailored loyalty programs and promotions
to suit customer preferences and behavior, ultimately providing
impactful customer experiences
“Our clients are seeking to create new integrated commerce
experiences that unify their digital and physical operations to
gain a comprehensive 360-degree view of their customer
interactions,” said Andre Machicao, senior vice president, digital
merchant products, Visa. “Today’s launch of Token Management
Service brings merchants a vital capability to better service their
customers by enabling them to embrace and create new, frictionless
and secure payment experiences and maintain their competitive
edge.”
Merchants can deploy Token Management Service with limited
changes to their current IT infrastructure. When using the service,
payment information is stored in secure Visa data centers.
Merchants can benefit directly by reducing costs associated with
compliance and minimizing security threats associated with keeping
sensitive data on their own networks.
“Merchants operate in an omnichannel world where customers have
the power of choice in shopping, namely – how, where, and when to
buy. Consumers also value convenience and immediacy in their
interaction with merchants and expect a streamlined payment
experience regardless of their buying method or platform,” said
Raymond Pucci, associate director, Mercator Advisory Group.
“Providing a unified token management service as part of a layered
approach to payment risk mitigation ensures a fast and secure
checkout experience that strengthens the customer
relationship.”
The latest addition to Visa’s innovative digital solutions for
merchants, Token Management Service is a complementary solution to
Visa Token Service, a payment network tokenization service
developed by Visa in 2014. Visa Token Service has paved the way for
innovative digital payments types, ranging from technologies such
as Visa Checkout, to mobile wallets and payment-enabled IoT
devices, including wearables, connected cars and appliances and
mobile commerce in retail environments. Token Management Service
will enable merchants to realize the value of payment-network
tokens by simplifying integration into Visa Token Service and other
payment network tokenization services.
For more information about Token Management Service, please
visit: http://www.cybersource.com/tokenization
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 usa.visa.com/aboutvisa,
visacorporate.tumblr.com and @VisaNews.
1 Source: Cisco Visual Networking Index Global Mobile Data
Traffic Forecast Update, 2015-2020
View source
version on businesswire.com: http://www.businesswire.com/news/home/20180222005556/en/
Visa Inc.Aida Hadzibegovic, 415-805-4242ahadzibe@visa.com
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