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December 11, 2020

FIS’ Worldpay partners with Visa to boost online payments security

FIS, through its payment processing company Worldpay, has launched its token management service in collaboration with payments giant Visa.

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Through Worldpay’s token management service, FIS is providing online merchants with access to Visa Token Service to bolster e-commerce payments security.

Visa’s tokenisation capabilities will help the merchants mitigate the risk of data theft, while improving card-not-present (CNP) authorisation rates.

Worldpay’s token management service is available to online merchants and partners globally via a single integration.

It will also help merchants comply with PCI requirements, as they employ the tokenisation strategy for card-on-file data.

Additionally, for online shoppers, FIS will provide access to the ‘Click to Pay’ with Visa feature.

This feature eliminates the need for repeatedly entering Visa card details, and shipping and billing information.

For merchants, this feature will help reduce card abandonment rates, and also benefit those merchants with high amount of guest checkout transactions.

Visa’s Click to Pay feature is interoperable with tokenisation technology, which safeguards the customer’s card number from fraudsters.

Visa global head of platform products Ansar Ansari said: “As the shift to digital commerce accelerates globally, so does the need for products that enhance both security and authorisation rates.

“Worldpay’s approach through their token management service and Click to Pay with Visa will make tokenisation and digital payment integration much easier for merchants, while enhancing security and the user experience for millions of online shoppers.”

FIS SVP of product Nicole Jass said: “This new token management service approach changes the rules on tokenisation by unifying a variety of tokens and data types, making token management simpler for online merchants who are looking for more security and seamless payment experiences.

“Merchants and shoppers will both benefit from this increased level of security, which will help protect sensitive data across the entire payments ecosystem.”

Free Whitepaper
img

Never Trust, Always Verify: Is Zero Trust the Next Big Thing in Cybersecurity?

Cyberattacks continue to rise every year and no sector seems to be immune. Hackers target sensitive information such as organizational, client, and financial data, as well as intellectual property (IP) and proprietary functions. As digital transformation becomes a top priority for many organizations, traditional perimeter-based security models are no longer sufficient to address the growing cybersecurity concerns. Against the backdrop, enterprises explore zero trust as it takes a micro-level approach to authenticate and approve access at every point within a network. Reasons to read: The cybersecurity landscape is swiftly changing, and businesses need more awareness to meet the evolving change. The report highlights the current state of play and the future potential of the zero trust approach in cybersecurity to protect critical digital infrastructure of enterprises across sectors such as financial services, healthcare, telecom, and transportation, among others. Read our report and gather insights on the following topics:
  • Traditional vs zero trust protection
  • Key advantages and solution providers
  • Major industries and key players
  • Drivers and challenges
  • Top funded startups and Mergers & Acquisitions
  • Implementation challenges
by GlobalData
Enter your details here to receive your free Whitepaper.

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