Visa token wallets launched on island to spur secure, frictionless digital payments
Tokenization is transforming digital payments in Mauritius, making transactions more secure, seamless, and accessible, where Visa’s Token Wallets are now available on the island, enabling consumers to use their cards safely across mobile wallets, wearables, and online platforms. The service was officially launched on November 12 during an event held in the presence of the Junior Finance Minister Hon. Dhaneshwar Damry. Head of Visa Eastern Africa & Country Manager Ethiopi, Yared Endale and Senior Director, Country Manager Indian Oceans & Djibouti Christian Mbonampeka, were present in Mauritius for the product launch.
The tokenization process has been in preparation for Mauritius for a year, with the participation of local banks, where the product launch comes at a time when it is being implemented locally and is becoming increasingly common with the expansion of digital and mobile payments.
What is Tokenization?
At one shot, Tokenization replaces sensitive card details (PAN) with a unique digital identifier (token), which it can only be used by authorized parties. This process encompasses:
- Enhancing security by protecting cardholder data.
- Improving authorization rates, resulting in fewer declined transactions.
- Enabling seamless payments across devices (phones, wearables, browsers).
Benefits of Tokenization
There are several benefits offered by tokenization such as:
- Security: More secure than traditional card transactions.
- Performance: Improved authorization rates and reduced fraud.
- Trust: Builds consumer confidence in digital payments.
- Friction Management: Smart authentication and device intelligence accelerate checkout while managing risk.
- Personalization: With user consent, agents can offer tailored experiences based on cardholder behavior.
Available Wallets in Mauritius:
There are several wallets on the island such as Issuer Mobile Wallets, supported by leading banks; Wearables- Enabled for Fitbit, Garmin Pay, Swatch, and Fidesmo Pay OEMs.
Key Statistics:
In terms of statistics, it is comprised of:
- Token Momentum: Over 110 million tokens issued in Sub-Saharan Africa (SSA), with rapid growth in Mauritius.
- Participating Issuers: 24 banks are live with tokenization in SSA, including major banks in Mauritius such as MCB and SBM.
- Transaction Growth: Tokenized transaction count in Mauritius grew by 154 percent year-on-year.
- Fraud Mitigation: Tokenized transactions are significantly more secure than traditional PAN transactions, helping to reduce fraud rates.
Ecosystem & Partners
Visa Token Service powers payments for leading global and local brands, including:
- Apple Pay, Samsung Pay, Google Pay, Swoo Pay
- Fitbit, Garmin Pay, Swatch
- Major merchants and payment platforms: Amazon, Netflix, Stripe, Cybersource, Adyen, Fiserv, PayPal, The Clearing House, Takealot, Checkers Sixty60
The Future: Visa Intelligent Commerce
Visa is piloting new services in 2025 to further enhance tokenization:
- Agent APIs: Allow AI agents to request and use tokenized credentials.
- Authentication: Secure user verification during token provisioning and transactions.
- Payment Controls: Ensure agent actions align with user intent.
- Signals & Personalization: Improve dispute management and customer experience.
Why Tokenization Matters?
Visa explains that tokenization is the foundation for secure, frictionless, and innovative digital payments in Mauritius. It empowers consumers, merchants, and financial institutions to transact confidently in an increasingly digital world.
