Google Pay has partnered with VISA for the rollout of tokenization across its platform that will enable users to safely transact with their debit or credit cards. Through tokenization, Google Pay users can make payment by using the debit or credit card without physically sharing their credit or debit card details through a secure digital token attached to their phone.
About Tokenization feature
- The feature will also facilitate the use of the tap-to-pay feature on near-field communications (NFC)-enabled point of sale (PoS) terminals and online merchants.
- The feature also works with online merchants, delivering more native and seamless OTP experiences without any redirects to 3D secure sites.
- This feature is now available to all users of Axis, SBI Card and Kotak.
Important takeaways for all competitive exams:
- CEO of Google: Sundar Pichai; Headquarters: California, United States.
- India & South Asia Group Country Manager of Visa: TR Ramachandran.