Visa Applies 'Visa Token Service' to Hyundai Card App Card

Payment at Overseas Merchants Possible with Hyundai Card App Card Only

[Asia Economy Reporter Ki Ha-young] Visa announced on the 27th that it will apply its card payment security solution, 'Visa Token Service (VTS),' to Hyundai Card app cards.

Accordingly, starting this month, Hyundai Card customers can make payments using only the app card without a plastic card at NFC terminals worldwide that support Visa contactless payments.

Visa Token Service replaces sensitive payment information such as the 16-digit card account number with a unique digital identifier called a 'token,' preventing damage and fraud caused by card information leaks. Additionally, it can be used across all internet-connected channels including online, mobile, and in-app, supporting secure payments on various platforms such as wearable devices and connected cars.

Through this collaboration, simply registering a Hyundai credit or debit card with the Visa brand on the Hyundai Card mobile application (app) enables a convenient and secure payment experience abroad without a plastic card. Tap-to-pay payments via the Hyundai Card app card can be made anytime and anywhere at overseas merchants in locations such as New York and the United Kingdom that support EMV contactless payments. There is no need for a separate currency exchange process, and it also reduces the hassle of purchasing tickets each time when using public transportation.

Moreover, when shopping online, payments are processed through Visa tokens instead of the actual 16-digit card account number, preventing online fraudulent transactions and reducing the risk of personal information leakage.

Patrick Story, President of Visa Korea, said, "We are very pleased to introduce Visa Token Service to Hyundai Card app cards," adding, "We plan to expand the provision of Visa Token Service by forming additional partnerships with major domestic card companies in the first half of next year."

Meanwhile, Visa first introduced a mobile wallet service with Visa Token Service applied in August 2019 in Korea in collaboration with Hana Card, and has since continued partnerships with KB Kookmin Card and Shinhan Card.

This content was produced with the assistance of AI translation services.