VisaCheckout

Visa Checkout Integrates Token Technology

October 28, 2024         By: Melanie Macinas

Global payments technology company Visa has announced the integration of token technology into Visa Checkout, its online checkout service that enables safe, easy payments in a few clicks.

Visa made this announcement at the ongoing Money 20/20 in Las Vegas, Nevada, where more than 10,000 people from the payment industry are expected to attend.

The Visa Token Service technology replaces sensitive information on payment cards with a unique digital identifier. This identifier is used to process payments, thus protecting actual card account information.

Visa is also working with merchants to integrate token technology to “cards-on-file,”—customer card account numbers stored by merchants in their systems to facilitate billing services, monthly subscriptions and other repeat payments.

The integration of tokenization technology in the Visa Checkout is another move from Visa to further improve payment security.

With the integration and the tokenization of card-on-file accounts, Visa will pave the way for its technology to extend to all types of consumer payment experiences.

Sam Shrauger, Visa’s senior vice president of digital solutions, commented, “Our goal is always to make payments fast, easy and secure. This has been a transformative year for payment security with new technologies that bring added protection to consumer accounts while shopping in-store and in-app, and now online, too.”

Visa Checkout enables consumers to safely store their shipping and payment information without the need to re-enter the information when shopping online. Consumers just have to enter their username and password and click a button to complete their purchase.

Launched in 2014, Visa’s online service has already over seven million users to date. More than 250,000 merchants and 470 financial institution partners currently offer the service worldwide.