These mandatory modifications were part of the April 2014 VisaNet Business Enhancement Release and were aimed at ensuring all VisaNet endpoints - US acquirer processors, acquirers, merchants, issuer processors and issuers that are directly connected to Visa - are keeping pace with industry developments in digital payments. Clients with US VisaNet endpoints are required to enable the minimum data fields that will be needed to ensure payment tokens can be recognised and processed seamlessly across the Visa ecosystem by June 2014. The service will align with the requirements outlined in the EMVCo specification.Ī Technical Letter issued in October 2013 included specifications for US VisaNet endpoints to enable the minimum data fields. The Visa token service is expected to be commercially available in late 2014. It can also support issuance of multiple tokens for a single account, each tied to a specific mobile device or service. The service will also help issuers manage the life cycle of payment tokens, as well as detokenise a Visa-created token when necessary. Visa has developed a token service which is expected to be available to issuers in late 2014.

In April, Visa published mandatory changes by June 2014 (as outlined in April 2014 Technical Letter).Īll US VisaNet endpoints must be capable of recognising and processing payment token-related data a critical step in migration to payment token processing.

Elements of the standard include token creation and de-tokenisation, new data fields in authorisation, clearing and settlement, and token identification and verification services. Visa participated in the development of a cross-industry standard which provides a globally consistent approach to payment tokens.

Payment details spotify redeem token