Visa has launched its ‘Tap to Add Card’ service in Ukraine, Georgia and South Africa, enabling cardholders to add their bank card to their mobile wallet by tapping their card against their mobile phone.
Visa says Tap to Add Card eliminates the cumbersome process of manual entry, a common source of errors and a vulnerability exploited by fraudsters seeking to compromise sensitive card information.
The tap generates a unique, one-time code validated by Visa’s Chip Authenticate service, ensuring secure provisioning of card credentials.
Visa says Tap to Add Card is designed to benefit all stakeholders in the payments ecosystem:
“Offering an experience similar to in-store payments, cardholders can enjoy a faster, more convenient, and more secure way to add cards to their digital wallets, encouraging greater adoption of digital payments.
“For issuers, Tap to Add Card can help reduce the risk and associated costs of provisioning fraud, simplifies the add-to-wallet process leading to fewer customer service inquiries and improves transaction approval rates.
“Similarly, for digital wallets, Tap to Add Card follows Visa security standards, reducing the risk of card compromise and promising a potentially higher token provisioning rate due to fewer card entry errors, while also presenting the opportunity to introduce new customer experiences.”