Visa Europe will be expanding its innovative tokenization service to support cloud-based transactions

Visa Europe is expanding its tokenization service to support cloud-based transactions coming from the mobile payments platforms that banks are using. The organization is responding to growing demand for payment support for mobile devices throughout Europe. Many consumers are beginning to rely on their mobile devices to shop online and in physical stores, which they consider to be more convenient than conventional forms of commerce. They also want to ensure that the services they are using are secure, which is where tokenization comes into play.

Tokenization has helped consumers become more comfortable with the concept of mobile commerce

Tokenization allows mobile payments to be made securely. Through a typical payment system, financial information is transferred digitally, allowing consumers to make payments online. Tokenization replaces this information with digital tokens, which can be used to authenticate transactions. These tokens are unique for every transaction, ensuring that consumer information is kept safe. Visa has become a pioneer in tokenization, which has helped consumers become more confident in the security of mobile commerce.

Half of all Visa transactions expected to come from mobile devices by 2020

The expansion of the Visa Europe Payment Tokenization Service will allow banks and other organizations to take advantage of tokenization. By 2020, Visa Europe predicts that one in five consumers will pay for products using their smartphones and other devices on a daily basis. Mobile will account for 50% of all Visa transactions made by that time, which has highlighted the need for secure services. Security is a top priority for banks, especially as consumers become more mobile-centric.

Embracing tokenization could allow retailers to find more success in mobile shopping

Visa Europe’s tokenization system will allow more merchants to enter into the mobile payments ecosystem. This is good news for retailers, as they can find major success by engaging mobile consumers. If they can provide secure services, they will have a better chance of connecting with consumers and providing them with an enjoyable and safe shopping experience. Visa has managed to improve the mobile commerce space significantly through its tokenization service, which has been praised by retailers and financial institutions.

A study has shed some light on the way that activity differs from one platform to the next.

According to the results of a recent study, there is a considerable difference between the activities of Android device users and those using gadgets based on iOS, in terms of the way a mobile app is installed and used.

This research was focused on the Asian marketplace, where consumers use their devices uniquely in the world.

According to data from the AppsFlyer mobile marketing and analytics firm, consumers in the Asian marketplace employ their smartphones in a different way from consumers elsewhere on the globe. This includes their behaviors for the installation of a mobile app and they way they would use it. That said, the study also pointed out that even within the Asian space, there is a considerable difference in the way those applications are used and installed by Android users and iOS users.

The mobile app research was based on more than 1.1 billion non-organic installations of more than 6,000 applications.

It also took into consideration approximately 5 billion launches of those mobile applications, which occurred between June 1 and December 15, 2015. The goal of the study was to allow marketers – among others – to better comprehend the way in which mobile device users worldwide will install applications and when they will actually be used.

The mobile apps that were considered within this research included those within several different categories, such as games, social, shopping, entertainment, communication, music, travel, business, and others.

Interestingly, while installs were about even throughout the length of an average week, among Android based device users, this was not the case for Apple product users. iPhones and iPads saw the highest number of app installs on Thursdays and Fridays.

In the Asian market, Thursday is the most popular day for consumers to install mobile apps. In fact, install activity increases by an average of 27 percent on Thursday and Friday, when compared to the installs at the start of the week. That said, in North America and Europe, Thursday is considered to be among the least popular for that same purpose.