Visa and Apple Opening a New Era of Payments on Mobile Devices
New Visa Token Service facilitates secure consumer payments with new
Service to be available to all U.S. financial institutions starting in the fourth quarter of 2014
Visa Token Service technology works by replacing sensitive payment account information found on plastic cards with a digital account number or “token” that can be safely stored on mobile devices and used for in store and in app purchases. Visa will roll out the service to financial institutions in phases -- initially supporting early participants in the Apple Pay launch, and then extending the service availability to all of its U.S. clients.
“Combining the trust, scale and security of Visa payments with Apple Pay
will accelerate adoption of mobile payments,” said
Apple Pay lets you make purchases in some of the most highly visited stores and within apps on the App Store with just the touch of a finger, using the new iPhone 6, iPhone 6 Plus and Apple Watch. Visa account holders will continue to receive all of the rewards, benefits and security offered by Visa credit and debit cards.
By enabling Visa account holders to also make purchases in store and in app with their new iPhone 6, iPhone 6 Plus and Apple Watch, consumers will now have a seamless experience with their preferred form of payment.
“The combination of new digital experiences from
CyberSource and Authorize.Net, two Visa-owned payment platforms, have also integrated with Apple Pay, providing online merchants with payment management solutions and supporting them to securely accept in app payments from the iPhone 6, iPhone 6 Plus and Apple Watch.
For more information visit: www.visa.com/digitalsolutions
Caroline Capers, +1 415-519-3027 (mobile)
Jake Standish, +1 415-770-3027 (mobile)
Tom Suiter, +1 415-730-6521 (mobile)