Following the launch of its Visa Token Service (VTS) last September, Visa announced on 13 February 2015 that it is expanding its security technology which involves replacing the sensitive payment account information traditionally found on plastic cards (such as the 16-digit account number, expiration date and security code) with a unique series of numbers that are sufficient to trigger payment.

What this means for you

Visa states that more than 500 financial institutions have started to implement VTS. The service will now be expanded more widely across the Asia Pacific, Latin America and the U.S. to tackle fraud through the protection of customer account information in online and mobile payments.