Visa Europe will introduce “tokenization” by mid-April, a way to pay with your smartphone while keeping your credit card details concealed. This action should “speed up” the arrival of Apple Pay and other new contactless payment services in Europe, according to TNW.
First introduced in the United States last fall, Apple Pay requires token-based security by Visa, MasterCard, and American Express to work.
According to Visa Europe:
The service supports the continuing fight against fraud, allowing financial institutions to control the environments where the token can be used – for example, a token set up only for contactless payments cannot be used to make an on-line purchase. Additionally, if a mobile device is lost or stolen, a token can be easily and promptly disabled.
All of Apple Pay works on the iPhone 6, iPhone 6 Plus, and Apple Watch. You can make in-app purchases with Apple Pay using the iPhone 6, iPhone 6 Plus, iPad Air 2, and iPad mini 3.
See also: An updated list of the merchants, cards and apps that accept Apple Pay, At least for Staples, Apple Pay is a hit in an unexpected place, and Samsung finally gets serious about mobile payments and purchases Apple Pay competitor LoopPay.