According to Visa, its tokens brought an “uplift” of more than $2 billion to the Asia-Pacific market in 2023.
Visa announced on March 26 that its payment services in the Asia-Pacific region have served more than one billion tokens while bringing an “uplift” to the market of more than $2 billion last year.
Visa Token Service (VST), launched in 2014, serves as a bridge between traditional banking account information and digital payment services such as Google Pay and Apple Pay.
Essentially, VST replaces the traditional 16-digit credit/debit card number used by consumers to make purchases with a secure numeric token. This allows consumers to share financial information without exposing their private details or banking information.
