Visa has integrated token technology into Visa Checkout, the company’s online check out service used by merchants and consumers globally. Additionally, Visa is working with merchants to apply token technology to “cards-on-file.”
These are customer card account numbers that merchants store in their systems to facilitate repeat payments such as monthly subscriptions or billing services.
Visa Checkout issuers and merchants are supportive of the integration, and expressed interest in working with Visa to make tokens available to their e-commerce customers.
Visa Checkout is an online service from Visa that allows consumers to securely store their shipping and payment information without ever having to re-enter the information when shopping online. With Visa Checkout, consumers can simply enter their username and password, click a button, and complete the purchase.
Since its launch in 2014, more than seven million users have signed up for Visa Checkout accounts. More than 250,000 large and small merchants and over 470 financial institution partners now offer Visa Checkout globally. These represent some of the biggest retailers on the internet, including Staples, Rakuten, Neiman Marcus, Gap, Pizza Hut, Orbitz, Williams-Sonoma and Virgin America.
Visa Checkout is available in 16 countries around the world. These include: Australia, Argentina, Brazil, Canada, Chile, China, Colombia, Hong Kong, Malaysia, Mexico, New Zealand, Peru, Singapore, South Africa, United Arab Emirates, and the United States.
For data, background and forecasts on Visa: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
Additional database resources include CardWeb.com’s CardExecs® – comings & goings of payments movers & shakers; CardWeb.com’s CardWatch® – ears & eyes on marketing globally (57K items); and CardWeb.com’s CardPixes® – form & function of card design (7K items).