Paysafe Offers Network Tokenisation Service for Merchants with Visa
20 Novembro 2023 - 6:00AM
Business Wire
Paysafe and Visa extend relationship to
integrate Visa Network Tokens for greater online payment security
in Europe
Paysafe (NYSE: PSFE), a leading payments platform, announces the
extension of its collaboration with Visa, a world leader in digital
payments, to integrate Visa Network Tokens, as an alternative to
primary credit and debit card account numbers. The new valued added
Network Tokenisation Service adds an additional layer of protection
for cardholders without impeding the user journey, resulting in a
seamless payments experience and higher authorisation rates.
Visa Network Tokens update expired card numbers in real time,
eliminating unnecessary declines and ensuring recurring payment
subscriptions remain uninterrupted. These Visa-generated network
tokens are securely transmitted and stored by Paysafe in lieu of
card PANs, reducing the risk of fraudulent activities due to data
breach or man in the middle attacks.
The integration allows merchants to access the Visa Network
Tokenisation Service through Paysafe’s Single Payments API,
providing enhanced security when conducting customer-initiated
payments, merchant-initiated payments, refunds, original credit
transfers and standalone credit transfers within Europe.
Daniel Fagan, SVP Product, Merchant Solutions, at Paysafe,
commented: “As eCommerce continues to grow and transactions
increasingly take place online, offering consumers a smooth and
secure payment experience is key to customer retention. We are
proud to work with Visa to provide this value-added network
tokenisation service to our merchants, integrating an extra layer
of protection for their customers and significantly enhancing their
payment journey.”
Mehret Habteab, SVP Product & Solutions Europe at Visa
added: “Visa Network Tokens help deliver a compelling digital
payments experience that can help reduce fraud and increase
authorisation rates by 5%. We are excited to collaborate with
Paysafe in Europe, to allow people and businesses to benefit from
this easier and more secure way to pay.”
About Paysafe Limited
Paysafe Limited (“Paysafe”) (NYSE: PSFE) (PSFE.WS) is a leading
payments platform with an extensive track record of serving
merchants and consumers in the global entertainment sectors. Its
core purpose is to enable businesses and consumers to connect and
transact seamlessly through industry-leading capabilities in
payment processing, digital wallet, and online cash solutions. With
over 20 years of online payment experience, an annualized
transactional volume of over $130 billion in 2022, and
approximately 3,300 employees located in 12+ countries, Paysafe
connects businesses and consumers across more than 100 payment
types in over 40 currencies around the world. Delivered through an
integrated platform, Paysafe solutions are geared toward
mobile-initiated transactions, real-time analytics and the
convergence between brick-and-mortar and online payments. Further
information is available at www.paysafe.com
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