Visa Token Service Update

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Visa Token Service Update

The Visa Token Service (VTS) replaces a payment card’s primary account number (PAN) and expiration date with a unique 16-digit identifier or token for use in mobile wallets or by a merchant for a card-on-file payment. In the first three years after its launch in 2014, most demand for VTS involved provisioning tokens to mobile wallets such as Apple Pay. Over the last two years, demand for the service has been led by payment gateways and merchant acquirers. They want to move their merchants away from the risky practice of storing PANs. Currently, credit and debit card issuers tied to more t...

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Nilson Report

1155

June 2019

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