Visa has launched the ‘Tap to Add Card’ service in Ukraine, Georgia, and South Africa. This service utilizes NFC technology, allowing users to add cards to mobile wallets easily. It improves security by generating a unique one-time code to validate card information, thus reducing fraud risks and enhancing the user experience.
Visa has introduced its ‘Tap to Add Card’ service in Ukraine, Georgia, and South Africa, allowing cardholders to seamlessly add their bank cards to mobile wallets via NFC technology by tapping their card on compatible mobile phones. This innovation enhances security and simplifies the card addition process, effectively addressing common errors associated with manual entry and fraud risks.
The Tap to Add Card feature generates a unique, one-time code through Visa’s Chip Authenticate service, which ensures the secure transfer of card credentials. This new method offers a faster and more secure alternative compared to traditional card addition processes, significantly reducing vulnerabilities often exploited by fraudsters.
Visa emphasizes the benefits of Tap to Add Card across the payments ecosystem. Consumers gain a more efficient and secure method of adding cards, which is expected to lead to higher adoption rates of digital payments. For issuers, this technology can minimize provisioning fraud risks and lower operational costs associated with customer inquiries.
Moreover, digital wallets integrating this feature benefit from reduced risks of card compromise, enhanced security adherence to Visa standards, and improved token provisioning rates due to fewer entry errors. This paves the way for potential new customer experiences in digital payment methods.
Tetiana Chorna, Visa’s country manager for Ukraine, expressed enthusiasm about the service’s introduction, stating that it offers cardholders peace of mind through advanced security measures when adding cards to their wallets. She believes it will significantly boost digital wallet adoption in Ukraine by simplifying user experiences and addressing security concerns.
In Georgia, Diana Kiguradze, Visa’s regional manager, echoed similar sentiments about the importance of ensuring personal data protection with this technology. Lineshree Moodley, Visa’s head for South Africa, noted that as South Africans increasingly adopt digital payments, Tap to Add Card will enhance financial inclusion while improving the contactless payment experience.
Visa’s Tap to Add Card enhancement introduces a significant advancement in the security and convenience of mobile payments. By streamlining the process of adding cards to digital wallets through NFC technology, it addresses common issues such as manual entry errors and fraud risks. The initiative also encourages increased digital payment adoption among consumers, card issuers, and digital wallet providers.
Original Source: www.nfcw.com
