Paysafe integrates Visa Network Tokens in Europe

abdelaziz Fathi

NYSE-listed payments provider Paysafe is deepening its collaboration with Visa, integrating the latter’s network tokenization service. This tech update aims to replace traditional card numbers with secure tokens, enhancing the safeguard against fraud.


The tokens are designed to automatically update expired card details, which is expected to decrease the number of declined transactions and help maintain active subscriptions without interruption.

With the integration, merchants using Paysafe’s platform can now facilitate various types of transactions including payments and refunds more securely across Europe, thanks to Visa’s network tokens. These tokens are intended to be stored and transmitted securely, potentially reducing the risks associated with data breaches and interception attacks.

The service is accessible through Paysafe’s API, indicating an effort to simplify the adoption process for merchants and maintain a straightforward user experience for customers engaging in electronic transactions.

Daniel Fagan, SVP Product, Merchant Solutions, at Paysafe, commented: “As eCommerce continues to grow and transactions increasingly take place online, offering consumers a smooth and secure payment experience is key to customer retention. We are proud to work with Visa to provide this value-added network tokenisation service to our merchants, integrating an extra layer of protection for their customers and significantly enhancing their payment journey.”

Mehret Habteab, SVP Product & Solutions Europe at Visa added: “Visa Network Tokens help deliver a compelling digital payments experience that can help reduce fraud and increase authorisation rates by 5%. We are excited to collaborate with Paysafe in Europe, to allow people and businesses to benefit from this easier and more secure way to pay.”

Earlier in September, Paysafe announced that it will no longer facilitate euro-denominated transfers to and from Binance.

The decision by the London-based payments firm came amidst increased regulatory scrutiny on Binance, with a focus on combating money laundering activities.

Paysafe had been also Binance’s banking partner in the UK, facilitating transactions through the Faster Payments network. The UK Financial Conduct Authority (FCA) raised concerns over Binance’s partnership with Paysafe as it gives the exchange access to the extensive retail payments network. At the time, banks such as Barclays had withdrawn their support to the exchange, resulting in the suspension of banking services.

Binance’s saga also comes at a time when leading card companies, Mastercard and Visa, have been reassessing their association with the crypto giant. This reconsideration follows intensifying scrutiny from US regulatory bodies. Specifically, Visa had already halted issuing new co-branded cards with Binance in Europe since July.

Read this next

Digital Assets

Philippine bars access to Binance, citing unregistered operations

The Philippines’ Securities and Exchange Commission (SEC) is moving to block access to Binance due to regulatory concerns, citing the platform’s operation without proper registration and authorization in the country.

Digital Assets

FTX cleared to sell investments in Grayscale and Bitwise funds

Bankrupt cryptocurrency exchange FTX has received approval from the bankruptcy court to start selling its stakes in digital trusts managed by Grayscale Investments.

Digital Assets

Nexo launches Dual Investment for yield earning and price prediction

“Dual Investment revolutionizes how users engage with BTC and ETH, offering a flexible, intuitive, yet sophisticated platform for predicting asset price movements, all while securing high yields.”


Aquis Stock Exchange goes live with cloud-based matching engine powered by AWS

“By running on AWS, the Aquis Stock Exchange is driving transformation across the capital markets industry while continuing to enhance the scalability, functionality and innovation that will benefit its members and stakeholders in an environment where security and resiliency are our highest priority.”


Options Technology certified as Microsoft Azure partner for Digital & App Innovation

“Securing our fifth Microsoft Solutions Partner status in less than 12 months is a testament to our commitment to innovation, excellence, and the highest industry standards. We are not only keeping pace with the evolving landscape of cloud technology but leading the way in shaping its future.”

Retail FX

N26 reports €213M in net loss, integrates stock and ETF

European digital bank N26 has shared its strategic roadmap for the next few years, underlining both its growth trajectory and financial targets. The announcement included key financial results for 2022 and projections for the coming years.

Digital Assets

Canadian ownership of crypto assets fell by 23%, study finds

Concerns about risks, volatility, lack of government guarantee, and potential fraud or hacking deterred others from buying crypto.

Institutional FX

Fortex adds GBE Prime to liquidity offering

“This collaboration enhances our liquidity distribution capabilities, offering our clients improved pricing, order execution, and risk management. We look forward to the positive impact this integration will have on our clients.”

Retail FX

Fullerton Markets Caps Off Stellar Year with Dual Triumph at Gazet International Awards 2023

Fullerton Markets, one of the fastest-growing brokerages in the Asia Pacific, has today announced its remarkable success at the prestigious Gazet International Awards 2023, where it secured two coveted accolades, reinforcing its position as a global leader in multi-asset brokerage and marketing a triumphant end to the year.