The new service already available for financial institutions in Europe from mid-April 2015, is part of Visa’s developed service to meet an increasing demand from consumers to use their latest smartphones and wearable devices for payments.
Speaking at #VisaTechFeed, a Visa Card-Bloggers meeting, Mr. Ade Ashaye, country manager, West Africa, Visa Cards, said that working with Visa Cards, financial institutions in Nigeria and West African region in general, will be able to respond to the rapidly changing environment, providing their customers with more convenient and secured payment models in a cost-effective way.
The tokenisation service protects customer data, substituting the payment account information found on a plastic card with a series of numbers that can be used to authorise payment, mainly online, without exposing actual account details.
Today, “VisaNet” centralized and integrated architecture enables Visa clients with secure, reliable and scalable payment processing and value-added services.
It connects more than 2.3 billion accounts, over 38 million acceptance locations, 2.3 million ATMs and nearly 15,000 financial institutions in 200 countries around the globe, making VisaNet the world's largest retail payments network.
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