Visa Token Service: Georgia launches innovative cashless payments

Global payments technology company Visa is launching an innovative Visa Token Service in Georgia in a bid to provide a secure environment and help drive innovation in online and mobile commerce.

The first in Georgia Visa Token Service program was launched in partnership with one of the largest banks in Georgia the Bank of Georgia.

“With Visa Token Service, consumers can shop anywhere, on any device, with confidence. In Georgia, where each fourth Visa card is issued with contactless functionality and each second Visa transaction goes contactless, we expect a fast adoption of Visa Token Service,” said Dmytro Krepak, Visa Country Manager for Ukraine, Georgia and Armenia.

The Visa Token Service provides a seamless experience for consumers making purchases online and with mobile devices, while preserving the integrity of the Visa payment transaction.

The Visa Token Service replaces sensitive payment account information found on plastic cards with a digital account number or "token”. Because "tokens” do not carry a consumer’s payment account details, such as the 16-digit account number, they can be safely stored by online merchants or on mobile devices to facilitate ecommerce and mobile payments. To try new service Visa cardholders need to use NFC-enabled mobile devices, running on the Android operating system. (Agenda)