Visa expands token and ticketing services with Rambus’ portfolio
Visa aims to combine its network tokenisation capabilities with the local and account tokenisation technology of Rambus to facilitate safer and secure payments across all forms of global commerce.
According to Visa, Rambus’ token technology will enable Visa to extend the security and convenience of tokenisation to all types of transactions beyond Visa cards, including those on domestic card networks, account-based and real-time payments systems.
“Facilitating safer, more secure digital transactions is core to Visa’s brand promise and central to growing electronic payments for everyone, everywhere. The addition of Rambus’ technology will allow us to deliver greater security beyond the card to support more transactions, payments systems and participants,” says TS Anil, SVP, global head of payment products and platforms, Visa.
Following the launch of Visa Token Service in 2014, Visa has enabled 100 markets for tokenisation providing this capability to 90% of Visa’s total payment volume, with more than 60 global token requestors recently added to the token platform.
The transaction is subject to relevant regulatory approvals and other customary closing conditions.