Digital payment solutions provider, MeaWallet, today launches a new payment tokenization solution that delivers Mastercard, Visa and American Express tokenization services through a single connection.
MeaWallet Merchant Tokenization connects merchants, PSPs and acquirers to the Mastercard Digital Enablement Service (MDES), the Visa Token Service (VTS) and the American Express Tokenization Service, so they can benefit from each of the globally interoperable and scalable tokenization platforms through one easy integration.
MeaWallet’s Merchant Tokenization enables merchants to ensure its customer’s stored card payment details remain valid throughout the card expiry and reissue process, without the customer needing to update them manually. This guards against the loss in sales that results from out of date card transactions being automatically declined.
In a token-on-file model, the issuer ensures that new cards are automatically mapped to the merchant’s payment token, which removes the need for the customer to update their credentials and thus enhances their buying experience.
Tokenization has become a cornerstone of secure digital payments and is a core focus for MeaWallet. We support banks, merchants and other financial institutions with both the knowledge and the technology solutions needed to simplify their implementation of tokenization services, so they can focus on delivering value added services and other digital features that differentiate them in the marketplace.
Lars Sandtorv, CEO, MeaWallet