Visa Token Service has been launched. The new service replaces sensitive payment account information found on plastic cards with a digital account number or “token”. Because “tokens” do not carry a consumer’s payment account details, such as the 16-digit account number, they can be safely stored by online merchants or on mobile devices to facilitate e-commerce and mobile payments.
CardWeb’s CardPixes database of more than 7,000 card images today features the Multi-Currency Cash Passport MasterCard. The card is issued in seven countries by banks, credit unions and other financial service firms.
Fiserv is expanding its mobile payments solution portfolio to include tokenization capabilities via Visa Token Service (VTS) and MasterCard Digital Enablement Service (MDES). These capabilities will be available to all Fiserv-processed debit and credit issuers. Fiserv will also enable its Accel debit processing network to support tokenization for its participants.
Western Union extended its exclusive agreement with Eurogiro, with scope to allow its members greater access to the full range of Western Union Money Transfer® services including digital offerings. Eurogiro is a global payment network for national postal organisations, post banks, commercial banks and other payment service providers. Eurogiro offers the exclusive Western Union® money-in-minutes service – as part of a portfolio of cross border payment services to 35 of its members. Western Union is harnessing its system with modifications to link cash and digital transfers between retail Agent locations, mobile phones, prepaid cards, online and traditional bank accounts and ATM.
With the introduction of Apple Pay the current marketing surrounding NFC is now focused on mobile payments but there is a much broader use for this technology which connects manufacturers with consumers to provide robust product information.
The first company to deploy Bitcoin kiosks is integrating plan biometrics technology for use on all its kiosks worldwide. Fujitsu’s PalmSecure technology positively authenticate customers on their entire global network of Robocoin ATMs.
IL-based ATM manufacturer Cummins Allison, an automated deposit module (ADM) for its full-function automated teller machines (ATMs). The Company says all its full-function ATMs are ADM-upgradable.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] When our company was founded, our vision was to develop a simple wallet app that consumers could use on any device, anywhere with any card. To deliver on that promise, we selected NFC as the best technology that was secure, simple and open to innovation. We think that today’s announcement by…
Fitch Ratings does not view the unveiling of Apple Pay as a watershed moment for the nascent mobile payments industry, but the financial information services firm say it recognize Apple Pay’s potential to disrupt the payments landscape longer term.
The payments industry and retail industry have chimed in with their excitement with the new Apple Pay mobile payments. Apple Pay will work with the newly announced iPhone 6, iPhone Plus and Apple Watch as well as the iPhone 5, iPhone 5c and iPhone 5s.
The world’s largest home improvement retailer acknowledged yesterday its payment data systems have been breached. The Home Depot says it will accelerate the roll out of EMV “Chip and PIN” cards.
Visa and MasterCard are both adopting “tokenization” which replaces cardholder information such as account numbers and expiration dates with a unique series of numbers that validates the customer’s identity.