eCommerce Solutions: Visa Digital Commerce Program

Visa aims to help simplify and secure digital payments with the Visa Digital Commerce Program (Visa DCP). Visa DCP is comprised of solutions that address core digital payment types, including unique transactions, stored card, and recurring payments. Solutions include Visa Secure Remote Commerce (Visa SRC) and Visa Token Service (VTS) for card-not-present transactions, as well as accompanying value-added services.

Core Program Services

Visa Secure Remote Commerce: Visa’s implementation of EMV® Secure Remote Commerce standard, Visa SRC aims to provide a simple and secure card payment experience by optimizing the collection of payment details from consumers. Visa SRC transactions can benefit from the security of the Visa Token Service, and together these services form the foundation of Visa’s new digital payment experience.

Visa Token Service Card on File for card-not-present transactions: Visa Token Service offers another layer of security by replacing sensitive cardholder information, such as personal account numbers, with a unique digital identifier (a “token”) that can be used for payment without exposing a cardholder’s more sensitive account information. Transactions taking place with Visa Tokens allow for additional information such as device data that, on average, improved authorization rates 3.2%(1) and lowered fraud count rates 67%(2).

EMV® is a registered trademark in the U.S. and other countries and an unregistered trademark elsewhere. The EMV trademark is owned by EMVCo, LLC.



Potential Benefits to the Ecosystem


Enhanced Security: Removal of PAN entry and storage, replaced with stored Visa Tokens, can reduce fraud rates and decrease impact of data breach. Visa value-added services including device-binding and consumer authentication can help enhance security.  
 
Simplified UX: Known consumer and standards-based solutions, built to enhance card-based payments within existing merchant checkout environments, can lead to a more streamlined, consistent experience for the consumer.  
 
Increased conversion and authorization approval rates: Based on early trials, conversion for password-less experiences in Visa DCP could be as high as 92-94% [1] vs. today’s conversion rates for merchant guest checkouts. Merchants can also choose to save the consumer's account on file, with the consumer’s consent.  
 
[1] Visa Checkout product data Oct 24 - Nov 2, 2017 for a best-in-class mobile hybrid plugin merchant with touch enabled and Visa Checkout product data for SSI Oct 1 - Dec 31, 2017


Increase Security

With Visa DCP, merchants can choose to benefit from Visa Token Service, replacing sensitive cardholder information with Token. Tokenization also provides increased protection from exposure to data breaches that occur elsewhere in the ecosystem.

Create Simplicity

Visa DCP aims to enable consumers to access their cards through a simple, password-less experience that is consistent across participating merchants.

Potentially Increasing Conversion & Authorization Approval Rates

Based on early trials, conversion for password-less experiences in Visa DCP could be as high as 92 - 94% [1] vs. today’s conversion rates for merchant guest checkouts

Potential benefits for card holders

The removal of manual PAN key entry and storage, and the ability to replace PAN with tokens, can make these transactions more secure. Consumer credentials are stored securely and ready to pay conveniently when they need them.

EMV icon for SRC transactions and card art helps to build consumer trust in digital transactions.

Card credentials can update automatically if supported by the card issuer for Visa SRC and for merchant COF where stored with merchants enable Visa Token Service for their stored credentials.


Potential Benefits for Gateways & Acquirers

Provide merchants and their consumers with optimized card payment experiences across digital commerce.

Increase platform security with network tokens and removal of PAN key entry.

Combat fraud in eCommerce, leveraging device-binding and consumer authentication.

Show support for digital payment standards.

Utilize Visa support for seamless integration.


Potential Benefits for Merchants

Improve conversion rates with simplified card-based payments online, reducing friction for consumers, which can help improve conversion rates.

Increase sales with network tokenization that supports higher authorization rates with dynamic data, lifecycle management to reduce expired credentials, and value-added services.

Increase security by replacing PAN entry and storage with network tokens, increasing protection from data breach exposure.

Reduce costs and consumer friction with lower fraud rates seen from transactions with Visa Tokens

Support standards-based integrations towards cost efficiencies 


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Source:

  1. Authorization approval rate lift for Card Not Present transactions processed as a Token vs. as Non-Tokenized credential. 3.2% average lift (3.2 percentage point increase) across sample of top U.S. merchants accepting Token transactions. Lift calculated by averaging auth rate improvement seen across samples of top merchants accepting Token transactions via third party Token Requestors with lifts seen by merchants acting as own Token Requestor. (In total, sample included 22 merchants across 6 different Token Requestors.) Source: VisaNet, Jan-March 2019, Brand: Visa. US-Issued Cards at US Merchants. Transactions deduped and controlled to credentials linked to a provisioned Token and Token auth attempted. Auths excluding Condition Code 51. Auth rate defined as approved count of unique transaction authorizations, divided by total unique transaction auths attempts. Auth rate includes first attempt, as well as subsequent retries on same credential type

  2. Fraud Rate Reduction: Source: VisaNet, Jan-Dec’18, U.S. Issued Cards at all U.S. merchants, Gross Fraud only. Fraud reduction for Card Not Present transactions processed via Token vs. PAN. Fraud reduction calculated across all Token Requestors. Weights for PV($) and Tran Count(#) for TRs was adjusted in accordance with Visa’s data confidentiality obligations by reducing weight of any TR contributing to more than 50% weight (if any) to 50% and then distributing remaining weight (50%) into other TRs based on their original relative weights.
Note - Authorization and Fraud rate improvement can vary from merchant to merchant due to a variety of factors (including merchant’s existing performance, merchant’s usage of other tools etc.), which could result in a merchant’s auth or fraud benefit being higher or lower than average from this sample