Visa Opens Tokenization Services to Third Party Partners
New Token Service Framework Allows More Companies to Scale Secure Digital Payments Globally
The Visa Token Service standard is a security technology that replaces cardholder information, such as account numbers and expiration dates, with a unique digital identifier (a “token”) that can be used for payment without exposing a cardholder’s more sensitive account information. Tokenization hides consumers’ confidential account information during digital transactions, making digital payments more secure for everyone, everywhere.
Visa’s token service provider program gives technology companies a standards-based approach to access Visa’s broad network of tools and services, including VTS, as well as development and marketing support. It also expands the market to other companies to develop new, secure digital payment services and ensures consistency envisioned in the EMVCo token standards.
“Secure digital payments will take a huge leap forward with Visa’s token service provider program, by accelerating tokenization throughout the industry,” said
There are two ways that Visa partners can take advantage of Visa’s token service provider program:
- Issuer TSPs are certified partners connected to VTS and other networks. They provide solutions for financial institutions to facilitate the provisioning, consumer ID and verification, token lifecycle management and VTS notifications of tokens in participating token requestors payment services. These include services such as Capital One Wallet, PNC Virtual Wallet, U.S. Bank Mobile Wallet, Wells Fargo Wallet, Apple Pay, Samsung Pay and Android Pay.
- Token Requestor TSPs are certified partners connected to Visa Token Service and other networks that allow token requestors to develop consumer digital payment solutions powered by VTS. Token Requestor TSPs facilitate the provisioning and lifecycle management of Visa payment tokens across token requestor payment applications and consumer devices, including mobile phones and the expected proliferation of connected devices.
“The integration between G&D and the Visa Token Service extends our leadership as a provider of secure digital payment solutions,” says
“Gemalto as a long time promoter of a secure digital payment ecosystem is pleased to partner with Visa,” says Jean Claude Deturche, SVP of
“Inside Secure is at the forefront of the secure payment ecosystem and it is extremely exciting to extend our partnership with Visa,” says
An organization can request to become a token service provider through participating in the Visa Ready Tokenization program. Please contact Visa directly at [email protected]. Visa will provide a program overview and the relevant documents necessary to proceed.
Andy Gerlt, 415-805-5153