Sunday, May 7, 2017

Following the sandbox model

Using the tokenization scheme as a control  point for financial apps 
Visa has developed a range of customised digital card management “experiences” that will allow issuers to offer Visa cardholders “greater control and insight over how they pay, where they pay and who can pay” with a digital version of their Visa card.The new capabilities will be built on the Visa Token Service (VTS) platform and will be made available to issuers in the US and Australia in 2018.The offering is designed to “simplify issuers’ access to push provisioning capabilities” by providing one integration point to interface with participating VTS token requestors, Visa says.This will allow cardholders to add a digital version of their Visa card to participating VTS token requestors through the issuer’s mobile banking app or online banking channel, eliminating the need to individually sign-up for participating services “such as digital wallets, card-on-file merchants, e-commerce enablers and IoT providers.”

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