- Mary Kay Bowman, head of international seller solutions at VISA Inc., spoke at Business Expert’s IGNITION: Redefining Retail conference on Tuesday about the changing payments landscape.
- As the retail market becomes significantly digital and data breaches become a significant threat, transaction security ends up being more important than ever.
- Bowman said that tokenization is a brand-new technology that VISA thinks can be an effective way to boost security, stating that both purchasers and sellers like it “because it just works”.
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Safeguarding customers’ financial details has actually never ever been more important.
As the retail industry becomes progressively online, both buyers and sellers are trying to find methods to make deals more safe and secure. Information breaches have been a major issue for both merchants and customers alike, and millions of customers’ credit card information has already been compromised.
Tokenization could be an easy and useful service to boosting the security of deals, stated Head of Global Seller Solutions at VISA, Inc., Mary Kay Bowman, at IGNITION: Redefining Retail, Organisation Insider’s retail conference.
Tokenization is a technology that changes client details saved on POS systems with special identifications. This approach of information storage makes it much harder for hackers to gain access to customer data.
” The whole playing field is altering,” stated Bowman. She stated that VISA does not have a horse in the race when it concerns e-commerce versus physical retail. That’s not VISA’s function, she stated. Tokenization is an innovation that Bowman hopes will be suitable no matter the kind of deal.
” What our role in that is,” said Bowman, “Is to support everything and make those transactions safe, safe, quickly, and trustworthy.”
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” That’s what sellers desire from us, and that’s what consumers desire from us,” Bowman continued. “Tokenization is something we believe is driving a lot of the other experiences, because it just works.”
Tech Security Watch Bowman’s full interview at Service Insider’s IGNITION: Redefining Retail occasion below.
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