Visa plans to restrict standing instruction Merchant Initiated Transactions (MITs) made through digital wallets such as Apple Pay and Google Pay.
From February 28, 2024, it will only be possible to process standing instruction MITs with network tokens for Credential On File (COF) transactions.
To minimize the impacts to existing transactions, Visa will:
Standing instruction MITs are transactions that were pre-agreed by your cardholders for goods and services. They are performed as follow-ups to Cardholder Initiated Transactions (CITs).
Any standing instruction MITs that are agreed on a digital wallet (Apple Pay, Google Pay, Samsung Pay etc) after February 28, 2024, will need to use COF network tokens instead of submitting the MIT with a full PAN.
If you are interested in the COF network tokens solution from Checkout.com, please speak to your usual support team who will be happy to help. If you receive your network tokens via Visa or a third-party, you will need to make sure they are Credential On File network tokens and submit new MITs accordingly from February 28, 2024.
Visa will continue to honour pre-established MITs between merchants and cardholders on device tokens that were provisioned prior to February 28, 2024.
Network tokens are unique digital identifiers used to supply a tokenized value instead of the primary account number (PAN) in all parts of the payment chain. These tokens replace sensitive card data, like the account number and expiry date on the front of a card used for payment, without exposing the actual account details.