Tokenization, Meet Account Updater
Written by Evan Schuman
October 21st, 2009 - StorefrontBacktalk.com
Some six years after both MasterCard and Visa enabled retailers to automatically update credit card information—a capability that many chains never opted to use—Cybersource on Monday (Oct. 19) said that it is automating that process for its customers but added a nice twist: It would automatically update the tokens that replaced the changed cards.
This approach isn’t much of a technological innovation. All the vendor is doing is adding a script that leverages the data the brands have been offering for years. But it’s a script that no one else has yet bothered to create. That said, given the number of retailers that never chose to use the original services, it’s unclear how many will jump at this new feature.
The original card brand programs—the Visa Account Updater (VAU) and MasterCard’s Automatic Billing Updater (ABU)—were set up so that when an expiration date changed or a card number was replaced, the retailer could be automatically notified so that the customer—especially those on recurring billings—didn’t have to be bothered or disrupted.(more)
October 21st, 2009 - StorefrontBacktalk.com
Some six years after both MasterCard and Visa enabled retailers to automatically update credit card information—a capability that many chains never opted to use—Cybersource on Monday (Oct. 19) said that it is automating that process for its customers but added a nice twist: It would automatically update the tokens that replaced the changed cards.
This approach isn’t much of a technological innovation. All the vendor is doing is adding a script that leverages the data the brands have been offering for years. But it’s a script that no one else has yet bothered to create. That said, given the number of retailers that never chose to use the original services, it’s unclear how many will jump at this new feature.
The original card brand programs—the Visa Account Updater (VAU) and MasterCard’s Automatic Billing Updater (ABU)—were set up so that when an expiration date changed or a card number was replaced, the retailer could be automatically notified so that the customer—especially those on recurring billings—didn’t have to be bothered or disrupted.(more)
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