BridgePay Network Solutions, a US-based payment solutions provider and transaction gateway, has teamed up with digital payments giant Visa.
The partnership aims to offer network tokenisation to BridgePay customers across all card brands and all payment processors.
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Additionally, BridgePay will utilise Visa’s Token ID solution, which enables banks, regional payments schemes, clearing houses, merchants, and other payments stakeholders to develop, manage and control their own tokenisation capabilities.
Leveraging Visa’s network tokenisation, BridgePay will tokenise stored payment card data. This will enable its merchant customers to process any card type with any US processor.
BridgePay said that adding network tokenisation technology to its payments technology stack will enable its merchant clients to provide an improved payment experience to their customers.
It also claims that the use of the network tokens will provide merchants benefits including higher fraud reduction rates as well as increased authorisation success rates across all card brands.
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By GlobalDataBridgePay CEO Rick Taylor said: “BridgePay is introducing network tokenisation, enabled by Token ID, as part of our ongoing technology partnership with Visa. Network tokens are the logical evolution in fraud reduction and the secure storage of payment card information.
“As an omni-channel gateway, it is key that we have a token strategy that supports all facets of our business.”
BridgePay is carrying out all necessary technology enhancements with Token ID. Its partners or merchants will require no additional effort to utilise network tokens, the firm said.
In 2020, Bulgarian fintech Paynetics tapped Visa to obtain tokenisation capabilities to offer an extended range of services to businesses across Europe.
