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P97 Partners Visa to Deploy Its Token Technology

P97 Networks, a leading provider of connected commerce and mobile payments services, announced the beginning of cooperation with Visa to introduce its token technology.

P97 Partners Visa to Deploy Its Token Technology

Source: Pixabay.com

This cooperation of the companies will accelerate the introduction of innovative solutions in the field of payments related to the operation of cars. Also, joint activities will ensure charging fees from tenants of electric vehicles through public networks.

The first stage of the implementation of the goals of cooperation between the two companies will be the launch of expanded services of P97 Network tokens. This solution will ensure the secure connection of millions of digital wallets and vehicles to create highly secure and unique mobile payment services.

P97 Networks and Visa intend to introduce several connected trading solutions in the coming months, including solutions for charging electric vehicles in public networks.

Ansar Ansari, Senior vice president and global head of Visa product platforms, said that this partnership through the use of tokens will provide a high level of transaction security for car manufacturers, energy companies, and issuers. He also noted that motorists who use digital payments most often prefer the same brands for a long period.

The connected commerce and mobile payments platform P97 Networks offers a variety of services for automakers using key cloud computing capabilities. This list includes an aggregation of payments, refueling and parking, car wash, and others.

P97 Networks provides these capabilities using the API. Thanks to this solution, manufacturers of auto parts, super-applications, and payment platforms with voice support can make transactions on more than 60,000 Internet marketing sites.

The connected commerce platform P97 Networks additionally provides car manufacturers with extensive data sets and information about retail facilities.

As we have reported earlier, BR-DGE Announces Three-Year Partnership with Visa.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.