Visa to Launch Tokenization in Europe in Mid-April for Mobile Payments

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applepayVisa announced on Tuesday that it will be rolling out tokenization in Europe, an essential technology that allows for secure and convenient contactless payments using various technologies (via The Next Web). The tokenization service will be available to financial institutions in mid-April and helps pave the way for the launch of Apple Pay in Europe.

“This is an exciting time to be in the payment industry. We believe that 2015 will be the year that mobile payments will be in the hands of consumers across Europe," said Sandra Alzetta, Executive Director, Core Products for Visa Europe. "Tokenisation is one of the most important technologies to emerge in digital payments and has the potential to start a whole new chapter in the kinds of products that are developed."

Visa, MasterCard and American Express were among the credit card companies that launched tokenization in the United States ahead of the launch of Apple Pay last October. The technology replaces your credit card information with a randomized series of numbers during payment authorization to secure your account details when you tap your smartphone on a contactless payment terminal.

Apple Pay remains limited to the United States, although an international expansion could start with Canada as early as March. The NFC-based mobile payments service requires an iPhone 6 or iPhone 6 Plus, and will also be compatible with the iPhone 5s, iPhone 5c and iPhone 5 when paired with an Apple Watch.

Top Rated Comments

chfilm Avatar
77 months ago
Bring it on Apple! Want Apple Pay in Germany! :)
Score: 6 Votes (Like | Disagree)
avanpelt Avatar
77 months ago
My guess is that Apple will announce Apple Pay coming to Europe and Canada as part of the Apple Watch event that is expected to happen within the next several weeks.
Score: 4 Votes (Like | Disagree)
Menel Avatar
77 months ago

Interesting news. I had no idea Tokenisation had yet to be rolled out in Europe.

Judging by the comments here over the last few months you'd think Apple were solely responsible for "holding back" Apple pay - like that was of benefit to them...

Good to here the pieces are falling into place, looking forward to an official launch later this year.

This was known, and discussed.

The same reason not even all USA Banks are supported. The banks(card issuers) have to implement technology on their end to support the tokenization. This is critical to the security of the system.

Apple's role is merely to authenticate your card (PAN), into the DAN (device account number). They drop the PAN. At the time of transaction they send the DAN+time based crypto. Apple is done at this point.

DAN+time based crypto gets passed through payment processor to the issuing bank, and VISA/MC/AMEX + the issuing bank has to be able to handle it.
Score: 3 Votes (Like | Disagree)
lazyrighteye Avatar
77 months ago

:apple:Pay is why I would have money invested in Apple, if I could afford the risks of investing.


It's why I got in when I did - albeit super late. But still, better at $94 than continuing to kick myself for not investing.

No wait - Apple is doomed. ;)
Score: 3 Votes (Like | Disagree)
Sandstorm Avatar
77 months ago
Exellent news! Bring it on (and don't leave out the smaller EU countries)! :)
Score: 3 Votes (Like | Disagree)
Reason077 Avatar
77 months ago
I hope Transport for London are are up to speed with supporting this.

Being able to use Apple Pay on the Tube, without fishing around in my pockets for a card (or phone), will be my #1 or #2 reason for buying an iWatch !
Score: 2 Votes (Like | Disagree)

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