Facebook Joins the Visa Digital Enablement Program
October 24 2017 - 7:00AM
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.
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Visa Inc.Kryssa Guntrum, 415-805-4488kguntrum@visa.com
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