We are pleased to share that Visa has signed a definitive agreement to acquire our Rambus Payments and Ticketing businesses. This is exciting news as Visa is one of the industry leaders in tokenization technology which replaces sensitive payment information with a unique identifier, or “token”, to make digital payments safer. Rambus payment token technology will enable Visa to extend the security and convenience of tokenization to all types of transactions beyond Visa cards, including those on domestic card networks, account-based and real-time payments systems.
In addition, the digital ticketing portfolio and expertise from Rambus will complement Visa’s efforts in transport. Visa is committed to delivering transit and urban mobility solutions to public transit operators, technology partners and cities around the world, with nearly 250 transit projects underway, helping millions of people get where they are going faster and easier than ever before.
TS Anil, SVP, global head of payment products and platforms, Visa commented: “Facilitating safer, more secure digital transactions is core to Visa’s brand promise and central to growing electronic payments for everyone, everywhere. As the way people and businesses pay and get paid continues to evolve, the addition of Rambus’ technology will allow us to deliver greater security beyond the card to support more transactions, payments systems and participants. Going forward, we will apply these expanded capabilities, expertise and scale to help further all forms of global commerce.”
Jerome Nadel, SVP/GM, payments and ticketing and CMO, Rambus said: “Rambus Payments and Ticketing solutions are at the forefront of tokenization technology. Joining forces with Visa as a payments leader will allow the group to scale technology and capabilities to deliver new products and services to the market, while continuing to partner with existing customers.”
View the press release here.