Worldline, the European leader in payments and transactional services and market leader in India announced the launch of its unique ‘Tokenisation Solution’ to enable businesses to comply with the RBI’s latest guidelines on online card data storage. Full-Service Tokenisation solution by Worldline is built in partnership with major card networks including Visa, Mastercard and RuPay along with leading issuing banks.
Worldline has developed a fully interoperable plug-and-play solution to enable card on file tokenisation using single integration.
Businesses will be able to enable Worldline Tokenisation solution with minimal technical upgrades and continue to offer seamless payment experience to their customers in compliance with the latest guidelines.
Commenting on the development, Jagdish Kumar, VP – Products & Solution, Digital Commerce, Worldline India, said:
"Full-Service Tokenization Solution by Worldline offers a holistic solution that would cover token provisioning along with tokenized transaction processing. It offers complete coverage for merchants, as it is integrated with all payment networks and issuers directly. Merchants can provision, manage tokens and customer’s consent from a single interface.
The RBI’s guidelines on tokenization will help to boost greater customer confidence in cards as a payment method and encourage the adoption of digital payments. From a long-term perspective, these guidelines will be very beneficial for all the stakeholders involved in the payment ecosystem, as it will not only open possibilities to reach inactive card customer base, but also help in businesses to enhance data security without compromising on customer experience.”
Here are some of the key advantages of Worldline Tokenisation Solution:
· Highest Coverage Across Payment Networks And Issuing Banks
Worldline Tokenization Solution has partnered with major card networks including Visa, Mastercard, RuPay, and Amex (in pipeline) as well as all leading issuing banks. It supports the issuance and management of both issuer and network tokens under a single interface.
· A Single Solution Connecting with Major Networks - Visa, Mastercard, RuPay, Amex
It is a single solution that connects to different networks viz. Visa, Mastercard, RuPay and Amex (in pipeline).A full-stack solution with token provisioning and authorization support with very few modification/development efforts in existing integration. The solution comes with both immediate/one-time payments and recurring payments (SI on cards) support. Thus, ensuring an end-to-end frictionless payment journey and enhanced customer experience.
· Future-ready Solution
Worldline Tokenization Solution is an advanced; state-of-the-art solution that is fully compliant to the new COF guidelines(card-on-file);and will ensure highest degree of data security and protection. It will also ensure continuity for business growth without a glitch, making business secure and future-ready.
ABOUT WORLDLINE
Worldline [Euronext: WLN] is the European leader in the payments and transactional services industry and #4 player worldwide. With its global reach and its commitment to innovation, Worldline is the technology partner of choice for merchants, banks and third-party acquirers as well as public transport operators, government agencies and industrial companies in all sectors. Powered by over 20,000 employees in more than 50 countries, Worldline provides its clients with sustainable, trusted and secure solutions across the payment value chain, fostering their business growth wherever they are. Services offered by Worldline in the areas of Merchant Services; Terminals, Solutions & Services; Financial Services and Mobility & e-Transactional Services include domestic and cross-border commercial acquiring, both in-store and online, highly-secure payment transaction processing, a broad portfolio of payment terminals as well as e-ticketing and digital services in the industrial environment. In 2020 Worldline generated a proforma revenue of 4.8 billion euros. worldline.com
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