Visa expands global network of providers to drive IoT payments

Visa has signed 13 new partners to participate in its token service provider program, according to a press release.

The company said that it has built out a global network of partners to offer secure, digital payment token services and ensure that commerce is secure on an device regardless of form factor as demand increases for such capabilities. 

The newest Visa partners share a desire to advance digital and device-based payments, and represent all major regions of the globe:

  • Global: FitPay, Infosys, Rambus
  • Asia Pacific and India: Mahindra Comviva, PayCraft
  • Central Europe, Middle East and Africa: Digiseq, FOO, Pri-Num, Seglan
  • Latin America and the Caribbean: HST, Prosa, VeriTran, YellowPepper

"A potential tidal wave of new payment accounts is approaching — conservative estimates expect 21 billion Internet-connected devices in just three more years, so having both the partner network and the right technology in place are fundamental to driving payments on those devices," Jim McCarthy, Visa executive vice president of innovation and strategic partnerships, said in a statement. "We are proud to welcome so many great new partners to the token service provider program to help us extend tokenization to new devices and form factors and give consumers more payment experiences that they love."

Visa first announced its token service provider program in October 2016 with initial partners Giesecke and Devrient, Gemalto and Inside Secure. Since then, Giesecke and Devrient, FitPay, Infosys, Inside Secure, and Pri-Num, have been Visa Ready-qualified and have begun integrations of Visa technology with partners.

Topics: Contactless / NFC, Handsets / Devices, POS, Security, Trends / Statistics

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