FIS (NYSE: FIS) today launched its token management service, offering online merchants and partners access to Visa Token Service to protect their payments environment and strengthen their digital commerce strategy.
The service provides clients with access to industry-leading tokenization capabilities from Visa, which can help reduce risk of data theft while helping to retain customers through uninterrupted commerce and enhancing card not present authorization rates.
FIS will also enable Click to Pay with Visa, which provides online shoppers with a smarter, streamlined checkout experience. Shoppers do not need to repetitively enter Visa payment card, shipping and billing data, which can reduce cart abandonment rates. Click to Pay with Visa is particularly beneficial to merchants that have a high percentage of guest checkout transactions, delivering a faster and seamless payment experience. Worldpay will provide Click to Pay with Visa to its network of merchants, regardless of the merchants’ acquiring relationship.
Worldpay’s token management service is available to organizations globally through a single integration, which can handle both Worldpay and Visa payment tokens.
“As the shift to digital commerce accelerates globally, so does the need for products that enhance both security and authorization rates,” said Ansar Ansari, global head of platform products, Visa. “Worldpay’s approach through their token management service and Click to Pay with Visa will make tokenization and digital payment integration much easier for merchants, while enhancing security and the user experience for millions of online shoppers.”
Using Worldpay’s token management service seamlessly connects various Worldpay tokenization deployments across an enterprise while reducing the risk of handling sensitive data. By employing a tokenization strategy for card-on-file data, online merchants may also more easily comply with PCI requirements.
“This new token management service approach changes the rules on tokenization by unifying a variety of tokens and data types, making token management simpler for online merchants who are looking for more security and seamless payment experiences,” said Nicole Jass, SVP of Product at FIS. “Merchants and shoppers will both benefit from this increased level of security, which will help protect sensitive data across the entire payments ecosystem.”