Baku, Azerbaijan, May 1
By Anvar Mammadov – Trend:
Visa is ready to offer Azerbaijan a new solution to boost security, and fight against hacking and fraud, Director of Visa's Risk Management Operations in the CIS and South-Eastern Europe Larisa Makarova told Trend.
Today, according to her, Visa, along with traditional tools, offers a new solution that just enters the CIS market.
"This is a tokenization - when the card number does not appear in the transaction, to prevent potential hacking risk. That is, we are talking about an increase in the number of hacks. In case of hack, fraudsters, who got the token instead of the card number, can do nothing with it," she said.
Touching upon work principles of the new tool, Makarova said that each token is tied to several tokens depending on the number of devices, through which one can make payment.
"This can be contactless payment through a card, payments made by phone, rings, glasses, etc. One token is attached to each device, that is, one card has several tokens. If any token is discredited, then firstly, the swindler can not do anything with it. Secondly, the issuer is aware of area where the discredit occurred, and it is very easy to investigate at which store or processing center it occurred, " said Makarova.
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