Visa Tokens

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.

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Western Union & Eurogiro

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.

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