Two decades down the 21st century and we do not use hard cash at all, at least in most cases. This is possible because of the plastic money that was very convenient to use. However, that aspect of payment had its backs such as cloning, card fraud, and even car theft. Therefore, to keep the system evolving, VISA introduced a highly secure payment system called the Visa Provisioning Service. What is this service all about and how does it work? We will discuss all these aspects in detail in this post.
What is Visa Provisioning Service?
Before we tell you about the Visa Provisioning Service, you must know what exactly is a provisioning service. In very simple words, the provisioning service is something that provides the resources to facilitate online payments. These online payments do not take place like credit or debit cards. Instead, these payments take place through mobile devices.
And the resources that VISA provides to allow such payments to take place are called provisions. Visa has developed this iconic technology to facilitate mobile-based payments across the world. This gets possible due to the usage of the extensive network of banks across the world.
With the Visa Provisioning Service, there is a huge increase in the number of mobile-based payments and the customers have given a positive response regarding this system. There are multiple reasons behind such support but the core reason is a secure card-less transaction. You might now have a question as to how does this works and how is it different from a regular internet-based payments system. So, we have discussed this aspect in the next section of this post in detail.
How Visa Provisioning Service Works?
The Visa Provisioning Service work on tokens. This means that you need not hand over your cards to the service executive while making the payments at the outlets. You also don’t need to swipe your card at all at any POS machine. What you need to do instead is to keep your card in the vicinity of the machine that accepts the payment. This is called machine-to-machine transaction, which has a pivotal role in making the transactions secure than ever.
When any merchant initiates a payment, you receive a notification about the payment details on your smartphone. You get to see all the information, including the date, time, and even the amount of the transaction. You can approve the payment with a token, which is generated as soon as the merchant initiates a payment. This token consists of your card details and your bank allow the transaction after you approve of it.
So, you can see how easily the payment is made without the need for the card to be handed over to anyone else. Just in case you are wondering if the Visa Provisioning Service is safe or not, do not worry. We will make you familiar with the security system of this technology.
Is the Visa Provisioning Service Safe?
In a single line, we can say that Visa Provisioning Service is completely safe. But then, such things are very complex and so we shall put forward the entire mechanism of security in this process. As we have mentioned above that the basis of this payment method is tokenization.
Tokens are random encrypted codes that store the information about your credit cards. So, when you have to make a payment, the payment system generates a token, which is used to communicate all the details of the transaction between you and the bank. So, the system will not use your actual details anywhere after activation and they remain safe.
Moreover, these tokens are like keys to a lock. One transaction generates a token, and that token cannot be used for any other transaction. So, even if someone manages to get that token, it is useless. So, you can completely rely on this payment system regarding its security and safety.
How to Use the Visa Provisioning Service?
To use the Visa Provisioning Service, you must have the following:
- An active bank account
- A smartphone with NFC (Near Field Communication) Technology
- An active VISA digital wallet
Is Visa Provisioning Service Free?
Yes, it is. The Visa Provisioning Service is completely free of cost as far as we consider the activation part. There is absolutely nil charge levied to your account for activating this service. For making the payments, the service charges apply as always. So, you can say that it is not completely free but you pay only the service charges when you make the payments.
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This was all the information related to the Visa Provisioning Service which is one of the latest technologies in use nowadays. You can easily use this service and save your crucial and sensitive data from theft. It is very important in this era of digital transactions. If you want any specific information, you can let us know through the comments section and we shall add it.