BridgePay Network Solutions announced its partnership with the world’s leading payment solutions provider, Visa. Under this partnership, VISA will provide network tokenization to BridgePay customers across all card brands and payment processors. Additionally, BridgePay will leverage VISA’s Token ID to create, manage and control its tokenization capabilities. To do this, it will tokenize the stored payment card data. Now, its merchant customers will now be able to offer a secure and simplified payment experience to their customers.
BridgePay’s secure network tokens will be compatible with BridgePay’s merchant payment infrastructure to enable processing of any card type with any US processor. It is expected that traders will experience the immediate benefits of using the tokens. Benefits include higher fraud reduction rates compared to PAN-based online transactions and higher authorization success rates for all card brands.
Using Token ID will not require any additional effort from partners or merchants, as BridgePay completes the necessary technological advancements with Token ID. “Network tokens are the logical evolution in reducing fraud and securely storing payment card information,” said BridgePay CEO Rick Taylor.
By partnering with VISA, BridgePay will rely on an infrastructure that has proven its effectiveness, backed by a world-renowned brand. Hence, this is likely to attract more traders to the platform. Furthermore, the adoption of network token technology for payment processing proves the growing importance of blockchain technology in traditional financial services.
About Bridge Pay
BridgePay Network Solutions is a payment platform that offers various products that support seamless transactions of electronic payments. Specifically, its network of processing partners offers connectivity to all major processors for credit card processing. Additionally, they support loyalty gift and rewards services and Automated Clearing Houses (ACH). It offers its customers robust data security technology and premium cloud-based solutions.