Visa has reached a major milestone by issuing ten billion tokens globally, with 400 million tokens being issued in Brazil alone. Tokenized transactions, which provide enhanced security for digital financial transactions, now account for 63% of the platform's online transactions in Brazil. Visa reported that tokenized transactions have a fraud rate that is five times lower than non-tokenized transactions. Leandro Garcia, Visa's Executive Director of Digital Payment Solutions, emphasized the benefits of tokenization in managing large payment flows securely and reliably, improving the consumer experience, and boosting security for online purchases. Currently, 29% of Visa's global transactions are tokenized, preventing $650 million in fraud losses in 2023.
- Content Editor ( crypto-news-flash.com )
- 2024-11-12
Visa Tokenization in Brazil: Enhancing Security for Online Transactions