Visa expands tokenisation partnership with Netflix to improve usability and security around the digital payments experience across the globe.
Building on a pilot programme that started in 2017, Visa has announced the expansion of Netflix’s use of its Token Service. A key focus is improving card-not-present authorisation rates and enabling a more seamless and secure experience globally for merchant and customer.
Both are collaborating to leverage the benefits of higher authorisation rates which result from issuer life cycle management of the tokens. Card details can be replaced with a unique digital identifier to process payments without exposing the cardholder’s account information.
With the offering, issuers worldwide can push dynamic updates on lost, stolen, or expired credentials for a friction-free merchant and customer experience. In line with the effort, The payments giant is working with its token participants to measure improvements and set performance milestones.
“By expanding our Netflix partnership, we further demonstrate our commitment to making digital commerce easier and more secure,” said TS Anil, Global Head of Payment Products and Platforms at Visa.
Netflix was the first merchant to begin using the service for its cards on file. Visa is a five-time global winner of the World Branding Awards under the Credit Cards category.