Tuesday, financial services corporation and credit card issuer Visa announced that it will be rolling out tokenization technology in Europe by mid-April, a move that could speed up the arrival of Apple Pay and other new contactless payment services to the 743 million people continent.
The payment tokenization technology will be “be at the heart of new mobile payment solutions.” Needless to say, Apple Pay has mainstreamed tokenization, which basically replaces sensitive credit card and payment information with a one-time digital token exchanged between your iPhone and an NFC-enabled payment terminal.