YellowPepper today announced the Credential-on-File (CoF) for Bradesco.
The project will allow Bradesco clients to make online payments through a virtual tokenized card, improving the security of the transactions. This CoF tokenization solution will be a direct response to battle this challenge and moreover help grow Brazil’s e-commerce landscape.
Visa Token Service creates a secure environment that drives innovation in online and mobile commerce. With the Visa Token Service, card details can be replaced with a unique digital identifier used to process payments without exposing the cardholder’s sensitive account information. For those Visa tokens, issuers around the world can push dynamic updates on lost, stolen or expired credentials to enable a frictionless merchant and customer experience.
YellowPepper will implement the Visa-powered virtual card in Bradesco’s mobile banking application providing secure online payment solution to Bradesco’s clients which will help accelerate the adoption of secure online transactions.
“We have been pioneers in the region for a long time, and we are so excited to bring such an essential tool to a country like Brazil to continue driving secure and easy payments, whilst setting the infrastructure for clients and citizens to adopt these new technologies,” said Serge Elkiner, Co-Founder and CEO of YellowPepper.
“We believe tokenization, will create the framework for seamless processing and significantly higher authorization rates in e-commerce in the near term,” says Alessandro Rabelo, Senior Director of Solutions, Visa. “By expanding our partnership with YellowPepper and Bradesco, we are further demonstrating our commitment to making digital commerce easier and more secure for Brazilians.”