Checkout.com First in UAE to Launch Visa Direct Push-to-Card

Hey Payments Fanatic!

Checkout.com has become the first acquirer in the UAE to launch Visa Direct Push-to-Card solution, enabling near real-time fund disbursements to eligible Visa cards. The platform connects over 190 markets with access to more than 8.5 billion card, account, and wallet endpoints through a single-entry point.

Shahebaz Khan, Visa Senior Vice President and Head of Commercial and Money Movement Solutions, CEMEA, stated: "Visa Direct is transforming the way money moves globally, and we are excited to see Checkout.com leverage this technology to meet the evolving demands of businesses and individuals alike by offering them a faster, more convenient, and secure way to send and receive funds."

Remo Giovanni Abbondandolo, General Manager for MENA at Checkout.com, added: "The UAE has rapidly emerged as a leader in digital payments, fueled by a clear vision to create a cashless, interconnected ecosystem." The company has reached a milestone of processing over one million Account Funding Transactions from the UAE with Visa.

Cheers,

Marcel

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GOLDEN NUGGET

𝐂𝐥𝐨𝐮𝐝 𝐓𝐨𝐤𝐞𝐧 𝐅𝐫𝐚𝐦𝐞𝐰𝐨𝐫𝐤 — the newest solution by Visa to bring the ApplePay experience to all 👇

The rise of digital commerce brings immense opportunities — but also a need for enhanced security, particularly for Card-Not-Present (#CNP) transactions. This is where the Cloud Token Framework (#CTF) steps in, transforming how payments are secured across multiple devices, bringing an ApplePay-like enhanced customer experience.

𝐃𝐞𝐟𝐢𝐧𝐢𝐭𝐢𝐨𝐧 𝐨𝐟 𝐂𝐥𝐨𝐮𝐝 𝐓𝐨𝐤𝐞𝐧 𝐅𝐫𝐚𝐦𝐞𝐰𝐨𝐫𝐤:

The Cloud Token Framework (CTF) by Visa allows any connected device to become a secure channel for digital commerce, minimizing risks associated with handling sensitive payment data. It enables the tokenization of CNP transactions, ensuring a seamless, secure payment experience across devices, combining consumer identity verification (ID&V) with device intelligence.

In essence, CTF creates an online payment experience binding a network token to a device and leveraging biometrics on that same device for the transaction to be initiated. An experience more secure than an in-person experience (in my opinion).

𝐇𝐨𝐰 𝐝𝐨𝐞𝐬 𝐢𝐭 𝐰𝐨𝐫𝐤:

1. The cardholder reviews the items in their booking and proceeds to checkout
2. The cardholder enters their card details and contact information
3. The app prompts the cardholder with a verification request to designate the device as trusted for future purchases
4. The merchant or other token requestor displays a list of consumer ID&V methods available from the issuer and the cardholder selects their preferred ID&V method
5. The cardholder completes verification via the ID&V method
6. Once confirmed, the cardholder receives a message to confirm that their device is trusted for subsequent transactions
7. On the trusted device, the cardholder is prompted to verify and confirm their booking
8. Once confirmed, the cardholder’s transaction is complete. The issuer receives the required device information to perform further checks

𝐏𝐨𝐭𝐞𝐧𝐭𝐢𝐚𝐥 𝐁𝐞𝐧𝐞𝐟𝐢𝐭𝐬:

𝐄𝐥𝐞𝐯𝐚𝐭𝐞 𝐩𝐚𝐲𝐦𝐞𝐧𝐭 𝐬𝐞𝐜𝐮𝐫𝐢𝐭𝐲 𝐚𝐜𝐫𝐨𝐬𝐬 𝐝𝐞𝐯𝐢𝐜𝐞𝐬
Use consumer ID&V and device intelligence to link the consumer, cardholder and their associated devices to help prevent account takeover fraud

𝐓𝐫𝐮𝐬𝐭𝐞𝐝 𝐝𝐞𝐯𝐢𝐜𝐞𝐬 𝐢𝐧𝐜𝐫𝐞𝐚𝐬𝐞 𝐜𝐨𝐧𝐟𝐢𝐝𝐞𝐧𝐜𝐞
Enable a trusted device to minimize friction and improve authorization rates for CNP transactions

𝐅𝐮𝐭𝐮𝐫𝐞-𝐏𝐫𝐨𝐨𝐟 𝐩𝐚𝐲𝐦𝐞𝐧𝐭𝐬
Expand digital commerce use cases with an end-to-end, secure and scalable token solution

The ApplePay experience was a revolution. Visa with Cloud Token Framework and Mastercard with TAS are bringing those to us all via tokenization!

Source: Visa ’s report

I highly recommend following my partner at Connecting the dots in payments... Arthur Bedel 💳 ♻️ for more great content like this one👌

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