Visa Reinvents the Card, Unveils New Products for Digital Age
www.businesswire.com
external-link
The way people pay and get paid has changed more in the past five years than in the last 50. Consumers have evolved, adapting to new payment experienc

Visa is rolling out new technology that will allow the payments giant to share more information about customers’ preferences [non-paywalled source] based on their shopping history with retailers as it seeks to remain a top player in the competitive e-commerce space. From a report:

The data will be shared via the payments giant’s proprietary “tokens,” which provide an added layer of security between a consumer’s bank information and a merchant. Shopping inclinations and other information based on past transactions – such as preferred categories, like movies or golf – will be shared via token with retailers with the consent of consumers.

“It’s almost entirely blind to almost all consumers,” Visa Chief Executive Officer Ryan McInerney said in an interview of the company’s token technology. “They just know their payments work better.” The sharing of shopping data via token is one of a handful of innovations Visa unveiled at a conference in San Francisco, where it’s based. Visa, one of the largest e-commerce technology companies in the world, is finding itself increasingly fending off competitors seeking larger slices of the fees merchants must pay to carry out consumer transactions.

Abstract credit: https://slashdot.org/story/428471

Rentlar
link
fedilink
17M

Ye

Create a post

A place to discuss privacy and freedom in the digital world.

Privacy has become a very important issue in modern society, with companies and governments constantly abusing their power, more and more people are waking up to the importance of digital privacy.

In this community everyone is welcome to post links and discuss topics related to privacy.

Some Rules

  • Posting a link to a website containing tracking isn’t great, if contents of the website are behind a paywall maybe copy them into the post
  • Don’t promote proprietary software
  • Try to keep things on topic
  • If you have a question, please try searching for previous discussions, maybe it has already been answered
  • Reposts are fine, but should have at least a couple of weeks in between so that the post can reach a new audience
  • Be nice :)

Related communities

much thanks to @gary_host_laptop for the logo design :)

  • 0 users online
  • 57 users / day
  • 383 users / week
  • 1.5K users / month
  • 5.7K users / 6 months
  • 1 subscriber
  • 3.12K Posts
  • 78K Comments
  • Modlog