Visa Europe Paves the Way to Bring Apple Pay Across the Pond The London-based payment processing company announced a new 'tokenisation' service that allows customers to pay on a mobile device without credit card information being disclosed.

By Catherine Clifford

Opinions expressed by Entrepreneur contributors are their own.

Monica Dipres

Apple Pay aficionados may soon be able to tap, tap on their smartphones and pay in Europe.

Visa Europe announced today that it is unveiling a new payment technology that allows credit card payments to be processed by a retailer without disclosing specific credit card data. The "tokenisation" service uses a series of numbers, not credit card numbers, to verify a payment, according to a statement released by the London-based payment processing company today.

The introduction of this mobile payment technology to Europe paves the way for Apple to bring its popular, touch Apple Pay system across the Atlantic. Thus far, ApplePay has only been available in the U.S.

Apple did not immediately respond to an email seeking comment on its plans to expand Apple Pay.

Related: Samsung Buys Mobile Payments Startup to Take on Apple Pay

Visa Europe said the launch of tokisation technology was indeed a catalyst for mobile payment technology becoming more mainstream in Europe. "This is an exciting time to be in the payment industry. We believe that 2015 will be the year that mobile payments will be in the hands of consumers across Europe," said Sandra Alzetta, an executive director of products for Visa Europe, in the statement.

Visa Europe is partnered with the U.S. credit card megaloth Visa, but it operates independently.

Related: How Apple Pay Is Poised to Transform the Trillion-Dollar Service Industry

The benefit of a mobile payment system like Apple Pay or one of its rivals, beyond the convenience of not having to fumble for a your wallet and credit card in your handbag or pocket, is safety. With the tokenisation technology, a consumer's credit card information is never shared with the merchant during a payment.

With Apple Pay specifically, a Device Account Number is generated for each customer and encrypted and stored on a chip in your mobile device. The credit card numbers, therefore, are not ever even stored on the Apple servers.

Related: Apple Opens its App Store to 4.5 Billion Chinese Credit Cards
Catherine Clifford

Senior Entrepreneurship Writer at CNBC

Catherine Clifford is senior entrepreneurship writer at CNBC. She was formerly a senior writer at Entrepreneur.com, the small business reporter at CNNMoney and an assistant in the New York bureau for CNN. Clifford attended Columbia University where she earned a bachelor's degree. She lives in Brooklyn, N.Y. You can follow her on Twitter at @CatClifford.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Side Hustle

'I Was Called Crazy': This 27-Year-Old's Side Hustle Hit $30,000 a Month in Under a Year — Now It's Worth Millions

Changing regulations forced Angel Rodriguez's jet ski rental company to shut down, and the young entrepreneur had to figure out his next move — fast.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Celebrity Entrepreneurs

From Hollywood to Harvest — How Zooey Deschanel is on a Mission to Make Fresh Produce More Accessible

Along with her business partner and ex-husband, serial entrepreneur Jacob Pechenik, Deschanel founded Lettuce Grow. This hydroponic vertical garden system allows you to grow fruits, vegetables, herbs and edible flowers at home.

Career

Automate Your Job Search and Get More Interviews for Only $40

Perform 50 filtered job searches a month and apply for 300 of them with a custom email.

Science & Technology

Want to Make Money With AI? Here Are Easy Steps to Unlock Explosive Profits in 2025

Learn to turn Google AI Studio into a profit-boosting machine with this three-step framework. Train AI to analyze data, uncover sales opportunities and maximize profits.