LAS VEGAS--(BUSINESS WIRE)--
Visa (NYSE:V) today announced that Facebook has joined the Visa
Digital Enablement Program (VDEP), which offers a commercial
framework to make it easier for partners to access Visa’s token services
and other digital capabilities globally. Facebook will use the Visa
Token Service to help accelerate the availability of secure,
payment-enabled services through its digital properties.
Over the last several years, Visa has developed a number of technology
platforms and programs, including VDEP and Visa Token Service, to
simplify the process for its partners and clients to bring innovative
payment solutions to market. By joining VDEP, Facebook is able to offer
its payments solutions to businesses, payments processors, and financial
institutions that utilize the Visa Token Service in a convenient and
scalable manner and without a complex set of contractual agreements or
technology integrations, ultimately helping to accelerate the
availability of payments and commerce-related services for people using
Facebook around the world.
“Being able to offer people a safe, simple and consistent purchasing
experience, regardless of where they are and what device they are using,
is increasingly critical and is what VDEP is designed to do for a global
technology company like Facebook,” said Jim McCarthy, executive vice
president of innovation and strategic partnerships, Visa. “Simplifying
the relationship between a global technology company and the financial
institution clients already utilizing our token services is what VDEP is
designed to do – it’s an essential part of ensuring these in-demand
experiences can be delivered to people as quickly as possible.”
The Visa Token Service is a security technology that replaces sensitive
payment card account information, such as the 16-digit account number,
expiration date and security code, with a unique digital identifier (a
“token”) that can be used to process payments without exposing actual
account details. Facebook will use this technology as one of the many
protections it employs to ensure the security of payments across its
platform.
Since VDEP
launched in 2015, technology partners and financial institution
clients have joined the program to help simplify the way they bring
payments solutions to their customers. The Visa Digital Enablement
Program and Visa Token Service are globally available to partners and
clients. For more information, visit www.visa.com/tokenservice.
About Visa
Visa Inc. (NYSE:V) is the world’s leader in digital payments. Our
mission is to connect the world through the most innovative, reliable
and secure payment network - enabling individuals, businesses and
economies to thrive. Our advanced global processing network, VisaNet,
provides secure and reliable payments around the world, and is capable
of handling more than 65,000 transaction messages a second. The
company’s relentless focus on innovation is a catalyst for the rapid
growth of connected commerce on any device, and a driving force behind
the dream of a cashless future for everyone, everywhere. As the world
moves from analog to digital, Visa is applying our brand, products,
people, network and scale to reshape the future of commerce. For more
information, visit usa.visa.com/aboutvisa, visacorporate.tumblr.com and @VisaNews.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171024005746/en/
Source: Visa Inc.