Payments providers team with Visa to bolster card security

Reseller | Sep 13, 2019 at 9:28 AM
  • NZ’s major payments companies have committed to rolling out new payment technology in partnership with Visa, and make the country one of the first to use credential-on-file (COF) tokenisation.
  • Adyen, Bambora, Cybersource, Paystation by Trade Me, and Windcave have committed to COF tokenisation to replace card details such as account numbers and expiry dates with unique digital identifiers, or token, that are used for payment without exposing sensitive information.
  • COF tokenisation also enables businesses to have consumer payment details instantly refreshed when a card is lost, stolen or expires, meaning there is no need for the consumer to log in and update their details, or for the business to lose out on that payment cycle.