Tap to Add Card enables cardholders to seamlessly add their cards to digital wallets by simply tapping them on their mobile device. The solution eliminates the cumbersome process of manual entry, a common source of errors and a vulnerability exploited by fraudsters seeking to compromise sensitive card information.
Visa announced the launch of Tap to Add Card in Ukraine, marking a significant advancement in digital wallet provisioning. „This innovative technology addresses the growing need for secure and streamlined digital payment solutions by allowing cardholders to add their Visa contactless cards to digital wallets with a simple tap on their mobile device.” – according to the press release.
„Bringing enhanced security and convenience, Tap to Add Card eliminates the cumbersome process of manual entry, a common source of errors and a vulnerability exploited by fraudsters seeking to compromise sensitive card information. The tap generates a unique, one-time code validated by Visa’s Chip Authenticate service, ensuring secure provisioning of card credentials and offering a significantly faster and more secure alternative to traditional methods.” – the company explained.
“We are excited to bring the enhanced security and simplicity of Tap to Add Card to Ukraine,” said Tetiana Chorna, Visa Vice President, Country Manager in Ukraine. “The solution provides cardholders with greater peace of mind when adding a card to a digital wallet, knowing their information is protected by advanced security measures. We believe that Tap to Add Card will be instrumental in driving further adoption of digital wallets in Ukraine by addressing key security concerns and simplifying the user experience.”
Global Momentum and Regional Impact
Tap to Add Card feature has quickly gained traction worldwide since its introduction last September by Visa, as part of its suite of new services aimed at enhancing digital payment experiences.
Since then, it was adopted by PrivatBank, Universal Bank and International Invest Bank (MIB). With over 49,000 Tap to Add Card tokens enabled in Ukraine, the technology has demonstrated its ability to streamline and secure digital wallet provisioning.
Benefits for the Ecosystem
Tap to Add Card is designed to benefit all stakeholders in the payments ecosystem. Offering an experience similar to in-store payments, cardholders can enjoy a faster, more convenient, and more secure way to add cards to their digital wallets, encouraging greater adoption of digital payments.
For issuers, Tap to Add Card can help reduce the risk and associated costs of provisioning fraud, simplifies the add-to-wallet process leading to fewer customer service inquiries, and improves transaction approval rates.
Similarly, for digital wallets, Tap to Add Card follows Visa security standards, reducing the risk of card compromise and promising a potentially higher token provisioning rate due to fewer card entry errors, while also presenting the opportunity to introduce new customer experiences.
The technology is supported by digital wallets globally, ensuring seamless integration with existing digital wallet experiences.
Besides Ukraine, Visa has launched its ‘Tap to Add Card’ service also in other two new markets: Georgia and South Africa, enabling cardholders to add their bank card to their mobile wallet by tapping their card against their mobile phone.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
