YIĞIM Payment System becomes the first company in the country to implement Visa Token Service (VTS) technology for internet acquiring.
This is not just a technological innovation — it is a significant milestone that confirms YIĞIM's leadership and its cooperation with the global giant Visa. By launching this advanced solution, YIĞIM is introducing it to the Azerbaijani market for the very first time. The project takes the security and convenience of online payments to an entirely new level, marking a real breakthrough in the field of digital transactions.
What is Visa Token Service (VTS)?
Visa Token Service is a cutting-edge technology developed by Visa, the global leader in digital payments. It replaces sensitive card data with a unique digital identifier — a token.
Tokens are used for online payments, including subscription-based transactions. This technology conceals card data from merchants and third parties, ensuring the protection of customers' confidential information and significantly reducing the risks of fraud and data breaches.
How does it work?
A customer makes a purchase through a website or app that supports tokenization.
The stored card number is replaced by a unique token created by Visa's system. These tokens are securely stored and can only be used with a specific partner.
The transaction is processed using the token, without the need to pass the actual card number to the merchant.
In the event that a token is lost or compromised, third parties cannot use it.
The introduction of VTS for internet acquiring once again highlights YIĞIM Payment System's commitment to innovation and its collaboration with global leaders in payment technologies. Now, businesses working with us can offer their customers safer and more reliable online payments.
YIĞIM Payment System offers its partners the ability to use Visa Token Service either in active or passive mode. This flexible approach allows the technology to be tailored to the specific needs of each business. It also helps increase the number of successful transactions, as partners can test and optimize the payment process to provide maximum convenience for their customers.
"We are pleased to introduce our customers to the innovative VTS technology from Visa. This is an important step in the development of digital payments in Azerbaijan. We are proud that YIĞIM Payment System is the first to implement this technology on the local market in partnership with Visa. We are confident that this service will make online payments even safer and more convenient for YIĞIM users," said Vugar Jafarov, Director of YIĞIM Payment System.
"The development of a cashless economy in Azerbaijan is a strategic priority for our company. We are proud to announce that together with YIĞIM, we are offering Visa cardholders in Azerbaijan an advanced tokenization technology. I believe this service will help our partners and customers make everyday purchases faster, more conveniently, and more securely," said Nurlan Gadjiev, Visa's Regional Manager in Azerbaijan.
YIĞIM Payment System is a leading fintech company in Azerbaijan and the first in the country to receive the international PCI DSS security certification. The company provides innovative payment solutions for both individual and corporate clients. Since 2017, YIĞIM has been a market leader, processing payments for more than 300 local and international companies, including Bolt Taxi, Bolt Food, Wolt, Uber, Yango, Hilton, Fairmont, Hertz, Wingz Scooter, and others.
The company's mission is to create a convenient, reliable, and secure digital payment ecosystem that contributes to the development of a cashless economy in the country. Its key focus areas include the integration of advanced technologies for online and mobile payments, the development of digital financial services, ensuring maximum transaction security, and supporting fintech innovation.
