FreedomPay, a global leader in Next Level Commerce™, announces a partnership with Visa to integrate Visa’s network tokenization capabilities within FreedomPay’s global identity and tokenization framework.
The true omnichannel global tokenization product will provide network tokens across card brands, helping to keep merchants compliant with cross-border and in-region data and privacy regulations, while helping merchants qualify for lower interchange rates for certain Visa network tokenized transactions.
“With the growing number of connected devices, changing consumer behaviors and shifting privacy regulations, the benefits of utilizing network tokens are many. Using the Visa Acceptance Platform, Visa has the scale and flexibility to seamlessly provision them for FreedomPay’s clients around the globe, helping to improve customer experience, improve authorization rates and reduce fraud,” said Bill Dobbins, SVP, Head of Acquiring and Enablement at Visa.
Network tokenization will also help streamline the customer journey, providing a seamless experience across borders and merchant locations. The new capabilities will be integrated into FreedomPay’s larger identity suite, offering a 360-degree view of the customer to the merchant, creating a more personalized checkout experience through data-driven loyalty and incentives.
“FreedomPay is trusted by the largest brands across hospitality, retail, F&B and more to provide repeatable and scalable next level solutions for security, data management and compliance, and to create a personalized and seamless customer journey around the globe,” said David Knowlton, CTO at FreedomPay. “By partnering with Visa for network tokenization, FreedomPay will provide merchants with more flexibility and geographic coverage, including in harder-to-access regions, when managing customer and card data.”
Additional features will also be supported without any changes to the merchant’s systems such as supporting card on file use cases with digital wallet taps as well as token life cycle management.