G&D's CloudPay Integrates with Visa's Token Service

G&D's CloudPay Integrates with Visa's Token Service
19.04.2016 10:15 am

G&D's CloudPay Integrates with Visa's Token Service

Payments , Cloud , Infrastructure

Visa Token Service is a new security technology that replaces sensitive payment account information found on payment cards, such as the 16-digit account number, expiration date and security code, with a unique digital identifier that can be used to process payments without exposing actual account details. Visa Token Service provides an industry standard EMVCo-compliant service for the generation, life-cycle management and processing of payment tokens. Through the connection to VTS, G&D can enable the payment card tokenization in the provisioning and life-cycle management services that G&D CloudPay solution provides to the issuers’ HCE mobile wallets.

“Integration of our CloudPay solution with Visa Token Service enables us to provide a single service interface to Visa issuers for efficient and secure implementation of mobile payment services, including seamless payment card tokenization,” said Edgar Salib, Group Senior Vice President Financial Institutions division at G&D. He adds that “This is a solution based on the industry standards for issuing banks that want to enable their own digital wallets.”

As digital payments are increasing worldwide, the mobile channel has become a major focus for the issuers and other stakeholders for the development of new payment services to consumers. The relationship between Visa and G&D enables financial institutions to develop and offer their own mobile wallets, with issuer’s own brand on top of the wallet, to their customers.

Related News

Major Eurozone banks start the implementation phase of a new unified payment scheme and solution, the European Payments Initiative (EPI)

A group of 16 major European banks from five countries (Belgium, France, Germany, the Netherlands and Spain) paved the way for the future launch of the European Payments... Read more »

BNY Mellon To Deliver Real-Time Account Validation Services to Corporate and Bank Clients

BNY Mellon today announced a strategic collaboration with risk and payments solution provider Early Warning Services, LLC (EWS). Through this... Read more »

PPRO adds European Paysafecash to its robust local payment method platform

Today, PPRO, the leading local payments platform-as-a-service, announces that it has released a direct integration with Paysafecash, in a move that signifies the brand’s... Read more »

Paycircle and PayDashboard partner to fully digitise payroll and payday experience

Cloud-based payroll provider, Paycircle, and interactive payslip platform... Read more »

SumUp ramps up support for local businesses via Gift Card partnership with Google My Business

UK-based payments service provider SumUp (www.sumup.co.uk), today announces a  partnership with Google - which will... Read more »

Royal Bank launches ‘Tyl’ to help Scottish business build for the future

Royal Bank of Scotland has announced the launch of a new, innovative payments service in Scotland. ‘Tyl’ is designed to make it easier for... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel