YellowPepper, a mobile payments pioneer in Latin America, has collaborated with Visa to provide the Credential-on-File (CoF) for Brazilian financial services firm Bradesco.
Under the programme, customers of Bradesco will be able to pay online via a virtual tokenised card.
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The move will address security concerns in such payments as well as boost the e-commerce landscape in Brazil, noted YellowPepper.
In this initiative, YellowPepper utilised Visa Token Service that replaces card details with a unique digital identifier or token while processing transactions.
The token refrains from revealing sensitive account data.
Visa senior director of Solutions Alessandro Rabelo said: “We believe tokenisation, will create the framework for seamless processing and significantly higher authorization rates in e-commerce in the near term.”
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By GlobalDataYellowPepper will deploy the virtual card in the mobile banking app of the Brazilian financial provider.
YellowPepper co-founder and CEO Serge Elkiner said: “We have been pioneers in the region for a long time, and we are so excited to bring such an essential tool to a country like Brazil to continue driving secure and easy payments, whilst setting the infrastructure for clients and citizens to adopt these new technologies.”
In 2018, Visa made a strategic investment in YellowPepper to support the adoption of mobile payments and tokenisation in Latin America as well as the Caribbean.
