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February 23, 2018

Visa introduces omnichannel Token Management Service globally

Visa has introduced Token Management Service to clients globally to enable give them a 360-degree view of customer payments across channels and payment types.

Part of the company’s CyberSource payment management platform, the service will enable merchants to view and monitor transaction preferences and behaviors across their commerce platforms, processing environments, geographies, payment types and card brands.

Through the new solution, Visa intends to cater to the emerging digital payments segment by unifying payment token implementation for optimised customer experience.

Visa senior vice-president of digital merchant products Andre Machicao said: “Our clients are seeking to create new integrated commerce experiences that unify their digital and physical operations to gain a comprehensive 360° view of their customer interactions.

“Today’s launch of Token Management Service brings merchants a vital capability to better service their customers by enabling them to embrace and create new, frictionless and secure payment experiences and maintain their competitive edge.”

The Token Management Service can be used without any major changes to a merchant’s existing IT infrastructure, the company said.

To reduce risk of security threats, payment information is stored in Visa data centres.

The latest service also complements Visa’s existing payment network tokenisation service, dubbed Visa Token Service, which has facilitated various types of digital payments such as Visa Checkout, mobile wallets, wearables, connected cars and appliances, and mobile commerce.

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