The financial technology company Fiserv has added token-based security from Visa and MasterCard.
The agreement enhances the Brookfield, Wis., vendor's payment security offerings, making Visa Token Service and MasterCard Digital Enablement Service available to credit and debit card issuers. It also makes tokenization available on Fiserv's Accel debit processing network.
Tokenization will be required for Apple Pay, the mobile wallet unveiled by Apple Sept. 9.
"Our partnerships with Visa and MasterCard to support tokenization, and our planned support of tokenization through our own Accel network, are part of our overall commitment to bringing secure and simple digital payment solutions to our clients and their customers," said Kevin Gregoire, president of Fiserv's financial institutions group, in a Sept. 10 press release.