Last week saw a major push by the traditional credit card networks to increase sector-wide support for tokenization. This announcement fits right in with Visa’s announcement of several new network partners for its Visa Token Service, and a move by American Express and PayPal to expand their ongoing partnership, also with token support in mind.
Implicit in increased token support is the notion that the checkout experience can be greatly improved by a more secure authentication process that reduces friction and buyer concerns. All of the announcements are also part of broader efforts by these companies to improve checkout.
