Visa announced that it has signed a definitive agreement to acquire Rambus Payments – the token services and ticketing businesses, formerly Bell ID and Ecebs Ltd.
Rambus is a premier silicon IP and chip provider dedicated to delivering data faster and safer. The combination of Visa’s network tokenization capabilities with the local and account tokenization technology of Rambus will help ensure safer and more secure payments across all forms of global commerce.
Presently, Visa offers its leading tokenization capabilities through Visa Token Service for card-based payments across the Visa network. Rambus’ token technology will enable the company to extend the security and convenience of tokenization to transactions beyond Visa cards, including those on domestic card networks, account-based and real-time payments systems.
“Facilitating safer, more secure digital transactions is core to Visa’s brand promise and central to growing electronic payments for everyone, everywhere. As the way people and businesses pay and get paid continues to evolve, the addition of Rambus’ technology will allow us to deliver greater security beyond the card to support more transactions, payments systems and participants,” said TS Anil, Senior Vice President, Global Head of Payment Products and Platforms at Visa. “Going forward, we will apply these expanded capabilities, expertise and scale to help further all forms of global commerce.”
“Rambus Payments and Ticketing solutions are at the forefront of tokenization technology,” said Jerome Nadel, the Senior Vice President and General Manager of Payments and Ticketing and Chief Marketing Officer at Rambus. “Joining forces with Visa as a payments leader will allow the group to scale technology and capabilities to deliver new products and services to the market while continuing to partner with existing customers.”
Apart from expanding its tokenization capabilities, Rambus’ digital ticketing portfolio and expertise in transit will also complement Visa’s commitment to delivering global transit and mobility solutions to public transit operators, technology partners, and cities around the world. Currently, the company has over 250 projects lined up.
