Apple Pay coming to Europe?
Visa Europe said it will introduce security measures that are expected to pave the way for mobile payment service Apple Pay to jump to Europe in the coming months, Reuters reported.
The security feature Visa announced is called “tokenization,” a service that swaps a user’s credit card number for a randomly generated number when the merchant sends payment information. Security experts say the process greatly reduces online identity theft.
{mosads}Visa, MasterCard and American Express have already introduced similar security features in the U.S.
Apple Pay recently made headlines stateside when the tech giant’s CEO Tim Cook revealed customers could soon use the digital payment system for transactions with the federal government, like paying to get into national parks.
The White House added that Apple Pay would soon be available for users of federal payment cards such as GSA SmartPay cards.
Apple Pay has gained traction in the U.S. since its October launch.
Apple said last month that, in its first three months, Apple Pay was responsible for two-thirds of all dollars spent using some form of mobile payment system with Visa, MasterCard and American Express.
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