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Visa Marks 10 Billion Tokens Since Launching the Technology a Decade Ago

Digital Transactions

Visa Inc. says the 10 billion tokens it’s issued since 2014 are just the tipping point, as it expects Visa’s tokenized transactions to grow exponentially over the next several years. Visa announced the 10-billion milestone Tuesday.

As of April, 29% of all transactions processed by Visa used tokens. Tokenization uses a cryptographic key that replaces sensitive payment data, such as that found on credit and debit cards, and that can be embedded into any device. Perhaps best known as a critical component of mobile-payments apps like Apple Pay and Google Pay, tokens have made their way to vehicles for in-car payments. Visa’s 1 billionth token was issued just in 2020. More than 8,000 issuers have enabled Visa tokenization, the network says. And in the past 12 months, more than 1.5 million e-commerce transactions use Visa tokens every day, Visa adds.

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