Visa Buys Rambus Payments To Tokenize Any Transaction On Any Network
In digital commerce, promise and peril co-exist. Payments fraud is continuously moving from offline settings into the online realm.
To that end, Visa said this morning (June 25) that it has inked a deal to buy the token services and ticketing business of chipmaker Rambus. The assets acquired were formerly known as Bell ID and Ecebs Ltd. Financial terms were not disclosed. As detailed in the release heralding the acquisition, Visa said the combination of its extant tokenization offerings with the local and account tokenization enabled by Rambus will help secure payments of all types done across the globe.
Visa has long since offered tokenization through its Visa Token Service for card-based payments on its network. Now, the addition of Rambus’ token technology will help Visa extend its security and convenience to transactions done beyond the confines of Visa’s cards, including account-to-account transactions, payments done on domestic card networks and payments done across real-time payment systems. The assets gained in the acquisition help banks control or suspend tokenized bank account numbers, limit token use to specific channels and even set spending limits.