“The acquisition strengthens Visa’s tokenization capabilities beyond card-based payments on the Visa network, to those on domestic card networks, account-based and real-time payments, extending the security and convenience of tokens to more transactions than ever before,” Visa says.
Once integrated, the payments network says, the local and account tokenization technology from Rambus, coupled with Visa’s global network and its Visa Token Service, will:
- Scale fraud-reducing, secure payment solutions achieved by tokenization technology to reach more retailers, financial institutions and transport operators via the Visa Token Service.
- Enable Visa’s tokenization services to reach new markets with specific localisation requirements, including the 28 countries in which Rambus operates today.
“Beyond tokenization, the digital ticketing portfolio and expertise in transit from Rambus complement Visa’s commitment to delivering global transit and mobility solutions to public transit operators, technology partners and cities around the world,” Visa adds.
“The combined efforts will foster delivery of more convenient, seamless transit ticketing experiences to consumers and transit organisations to expand Visa’s existing mobility solutions.”