Digital Transactions
In a move to expand its tokenization services, Visa Inc. announced Tuesday that it has a deal to buy the token and smart-ticketing businesses of Rambus Inc., a Silicon Valley chip and software provider.
The purchase price is $75 million in cash, according to a regulatory filing from Sunnyvale, Calif.-based Rambus. The token business is part of Rambus’s Smart Card Software Ltd. subsidiary, which will go to Visa under terms of the acquisition and includes the former Bell ID mobile-payment businesses and the Ecebs smart-ticketing systems for transit providers.
With the acquisition, Visa said it can extend tokenization beyond Visa cards to other types of payments, including real-time payments and domestic payment networks.
