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Visa Announces Token Security Service

Wednesday, September 10, 2014 5:00:00 AM PDT | VentureDeal
   Foster City, California  --  Visa (NYSE: V) has announced the launch of a new secure technology environment for online and mobile commerce.

Called Visa Token Service, the system replaces payment account information found on plastic cards with a digital account number or "token".

The tokens do not carry the consumer payment account details and can also be stored by online merchants or mobile devices to provide convenience and greater security.

The new service will be available to U.S. financial institutions in October, 2014 and rolled out overseas in 2015.

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PCI - Level1