VTS boosts APAC digital economy by $2B

THE Asia-Pacific region's digital economy grew by over $2 billion last year following the adoption of the Visa Token Service , Visa claimed on Thursday.This was said to underscore the value tokens add to digital commerce, both in-store and online, as the number of tokens in the region reached 1 billion.'Consumers and businesses alike expect payments to be secure and seamless, and network tokens are the enabler,' Visa Asia-Pacific Merchant Sales Head Previn Pillay said in a statement.

Tokens provide greater control and enrich data exchange, and reduce the number of declined legitimate transactions.Visa said that merchants using the VTS had seen a $2-billion increase in payment success and a 58-percent reduction in fraud.

Source: Financial Digest (financialdigest.net)

Boosts APAC Digital Economy By $2B

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