BridgePay Network Solutions has announced its partnership with the world’s leading payments solutions provider, Visa. The partnership will see VISA provide network tokenization to BridgePay customers for all card brands and payment processors. Also, BridgePay will leverage VISA’s Token ID to build, manage and control its tokenization capabilities. To do that, it will tokenize stored payment card data. Henceforth, its merchant clients will now be able to deliver a secure and simplified payment experience to their customers.
BridgePay’s secure network tokens will be compatible with BridgePay merchant’s payments infrastructure to enable processing of any card type with any U.S. processor. It is expected that merchants will experience the immediate benefits of using the tokens. The benefits include higher fraud reduction rates compared to online PAN-based transactions and higher authorization success rates across all card brands.
Using Token ID will need no additional effort from partners or merchants, as BridgePay is completing the necessary technology advancements with Token ID. “Network tokens are the logical evolution in fraud reduction and the secure storage of payment card information,” said BridgePay CEO Rick Taylor.
By partnering with VISA, BridgePay will leverage an infrastructure that has proven its efficiency, backed by a world-renowned brand. Therefore, this is likely to attract more merchants to the platform. Also, the adoption of network token technology for payments processing proves the increasing significance of blockchain technology in mainstream financial services.
About BridgePay
BridgePay Network Solutions is a payments platform that offers various products that support seamless transaction of electronic payments. Specifically, its network of processing partners offers connectivity to all major processors for credit card processing. Also, they support gift and loyalty reward services and Automated Clearing Houses (ACH). It offers its clients robust data security technology and premium cloud-based solutions.