Visa Inc. has announced it is supporting consumer payments with the new iPhone 6 and [other Apple devices]. Thanks to a new capability called Visa Token Service, participating financial institutions in the U.S., and eventually abroad, will be able to add Visa debit and credit cards to Apple Pay, Apple’s new payment service, and enable their customers to make easy and secure purchases at select U.S. merchants both in stores and in apps.
Visa Token Service technology works by replacing sensitive payment account information found on plastic cards with a digital account number or “token†that can be safely stored on mobile devices and used for in store and in app purchases. Visa will roll out the service to financial institutions in phases – initially supporting early participants in the Apple Pay launch, and then extending the service availability to all of its U.S. clients.
Apple Pay lets you make purchases in some of the most highly visited stores and within apps on the App Store with just the touch of a finger, using the new iPhone 6 and [other Apple devices]. Visa account holders will continue to receive all of the rewards, benefits and security offered by Visa credit and debit cards.
CyberSource and Authorize.Net, two Visa-owned payment platforms, have also integrated with Apple Pay, providing online merchants with payment management solutions and supporting them to securely accept in app payments from Apple devices.