Visa, the world’s leader in digital payments, announced its collaboration with Cherri Tech to enhance online shopping experiences. The first Visa-certified global Token Service Provider in Taiwan, Cherri Tech’s online payment tokenization service “3JTSP Credit Card Tokenization Service ” leverages Visa Token Service to enhance online payment security.
The Visa Token Service can be applied to a wide variety of payment scenarios. Cherri Tech’s “3JTSP Credit Card Tokenization Service1” replaces sensitive account information, such as the 16-digit primary account number, with unique digital identifiers known as tokens. It then stores and manages these tokens on merchants’ behalf.
Marco Ma, Visa General Manager for Taiwan: “Taiwanese are already familiar with tokens, widely used in mobile and wearable contactless payments. Visa Token Service in collaboration with Cherri Tech extends the security and convenience to online shopping for consumers in Taiwan, further supporting the government’s drive to expand mobile payment.”
According to the Market Intelligence & Consulting Institute’s Consumer Online Shopping Behaviour Survey2, 45 percent of purchases by Taiwanese consumers in 2017 were made online. A simplified and secure payment experience is crucial to the increasing appetite in eCommerce.
3JTSP Credit Card Tokenization Service also helps to automatically update credit card expiration date after a credit card is reissued or replaced, so customers do not have the hassle of making the update themselves or getting a payment declined when their card expires, providing a convenient and seamless payment experience when shopping for consumers.
As Visa’s first certified Token Service Provider in Taiwan, Cherri Tech, has acquired International PCI-DSS Level 1 Information Security Certification.
About Visa Inc. Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit usa.visa.com/about-visa, visacorporate.tumblr.com and @VisaNews
