In Canada, card-not-present transactions are growing at nearly eleven times the rate of face-to-face transactions – one of the highest growth rates in the developed world1.
As ecommerce and mobile payments continue their rapid growth among Canadian consumers, Visa is continually looking for ways to make those digital transactions safer and more secure. One way is by offering security technology, called tokenization, that Visa implements through Visa Token Service (VTS).
The Visa Token Service replaces a cardholder’s payment account information with a unique digital identifier (a “token”). The token can be used for payment processing (including at point of sale, online and for stored card transactions), making digital payments more secure for everyone, everywhere.