Worldpay from FIS & Visa partner to bolster digital commerce security and convenience
By Pavithra R
Financial service technology provider FIS has announced the launch of token management service, to offer online merchants and partners access to Visa Token Service and protect their payments environment while strengthening their digital commerce strategy.
The new service will provide s clients with access to tokenization capabilities from Visa, which can help reduce the risk of data theft while helping to retain customers through uninterrupted commerce and enhancing card not present authorization rates. Worldpay’s token management service requires single integration and is available to global organisations, which can handle both Worldpay and Visa payment tokens.
“As the shift to digital commerce accelerates globally, so does the need for products that enhance both security and authorization rates. Worldpay’s approach through their token management service and Click to Pay with Visa will make tokenization and digital payment integration much easier for merchants, while enhancing security and the user experience for millions of online shoppers,” said Ansar Ansari, global head of platform products, Visa.
Using Worldpay’s token management service is expected to reduce the risk of handling sensitive data. Online merchants can easily comply with PCI requirements by employing a tokenization strategy for card-on-file data.
Additionally, FIS will enable Click to Pay with Visa, which provides online shoppers with streamlined checkout experience. Click to Pay with Visa is specifically beneficial to merchants with a high percentage of guest checkout transactions, delivering a faster and seamless payment experience. Worldpay will provide Click to Pay with Visa to its network of merchants, regardless of the merchants’ acquiring relationship.
“This new token management service approach changes the rules on tokenization 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,” said Nicole Jass, SVP of Product at FIS.
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