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YellowPepper with Visa announces Credential-on-File for Bradesco

Latin America’s YellowPepper, mobile banking and payment solution provider,  in partnership with Visa has announced the Credential-on-File (CoF) for Bradesco, a Brazilian banking and financial service company. Bradesco through the project is expecting to empower clients to make online payments through a virtual tokenized card, improving the security of the transactions.

With CoF, Bradesco is aiming to alleviate the security challenge in transactions along with widening Brazil’s e-commerce landscape. Visa Token Service creates a secure environment for online and mobile commerce. It facilitates card details to be replaced with a unique digital identifier used to process payments without exposing the cardholder’s sensitive account information. Issuers can also push dynamic updates on lost, stolen or expired credentials to enable a frictionless merchant and customer experience on these Visa tokens.

“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,” said Serge Elkiner, Co-Founder and CEO of YellowPepper.

YellowPepper will implement the Visa-powered virtual card in Bradesco’s mobile banking application so as to offer Bradesco’s clients with a secure online payment solution which will help accelerate the adoption of secure online transactions.

“We believe tokenization, will create the framework for seamless processing and significantly higher authorization rates in e-commerce in the near term. By expanding our partnership with YellowPepper and Bradesco, we are further demonstrating our commitment to making digital commerce easier and more secure for Brazilians,” said Alessandro Rabelo, Senior Director of Solutions, Visa.

Founded in 2004, YellowPepper is the fintech providing proprietary technology and partnerships with leading financial institutions and industry startups. It is operating in nine Latin American countries, and currently enables over 3 million monthly active users that execute 565 million transactions yearly.

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