Skipify and Discover Announce Strategic Partnership to Enhance Tokenization & Streamline Digital Payments
Skipify and Discover Global Network have announced a strategic partnership aimed at enhancing digital payment experiences. The collaboration focuses on implementing advanced tokenization technology to improve security and streamline checkout processes for Discover cardholders.
Through Skipify's Commerce Identity Cloud, the partnership will replace sensitive card information with encrypted tokens, targeting reduced fraud and improved data security. The integration is expected to boost authorization and conversion rates for participating merchants while delivering a more seamless shopping experience.
Skipify's network already includes major card issuers like American Express, Mastercard, VISA, and Synchrony. With over 100M consumer cards, Skipify's platform is projected to recognize 1 in every 2 U.S. shoppers by the end of 2025.
Skipify e Discover Global Network hanno annunciato una partnership strategica mirata a migliorare le esperienze di pagamento digitale. La collaborazione si concentra sull'implementazione di tecnologie avanzate di tokenizzazione per migliorare la sicurezza e semplificare i processi di pagamento per i titolari di carte Discover.
Attraverso il Commerce Identity Cloud di Skipify, la partnership sostituirà le informazioni sensibili delle carte con token crittografati, mirando a ridurre le frodi e migliorare la sicurezza dei dati. Si prevede che l'integrazione aumenterà i tassi di autorizzazione e conversione per i commercianti partecipanti, offrendo un'esperienza di acquisto più fluida.
La rete di Skipify include già importanti emittenti di carte come American Express, Mastercard, VISA e Synchrony. Con oltre 100 milioni di carte consumatore, si prevede che la piattaforma di Skipify riconoscerà 1 acquirente su 2 negli Stati Uniti entro la fine del 2025.
Skipify y Discover Global Network han anunciado una asociación estratégica destinada a mejorar las experiencias de pago digital. La colaboración se centra en implementar tecnología avanzada de tokenización para mejorar la seguridad y agilizar los procesos de pago para los titulares de tarjetas Discover.
A través de Commerce Identity Cloud de Skipify, la asociación reemplazará la información sensible de las tarjetas con tokens encriptados, con el objetivo de reducir el fraude y mejorar la seguridad de los datos. Se espera que la integración aumente las tasas de autorización y conversión para los comerciantes participantes, al tiempo que ofrece una experiencia de compra más fluida.
La red de Skipify ya incluye a importantes emisores de tarjetas como American Express, Mastercard, VISA y Synchrony. Con más de 100 millones de tarjetas de consumidores, se proyecta que la plataforma de Skipify reconocerá a 1 de cada 2 compradores en EE. UU. para finales de 2025.
Skipify와 Discover Global Network는 디지털 결제 경험을 향상시키기 위한 전략적 파트너십을 발표했습니다. 이 협력은 Discover 카드 소지자를 위한 보안을 개선하고 체크아웃 프로세스를 간소화하기 위해 고급 토큰화 기술을 구현하는 데 중점을 두고 있습니다.
Skipify의 Commerce Identity Cloud를 통해, 이 파트너십은 민감한 카드 정보를 암호화된 토큰으로 대체하여 사기를 줄이고 데이터 보안을 개선하는 것을 목표로 합니다. 이 통합은 참여 상인들의 승인 및 전환율을 높이는 동시에 보다 원활한 쇼핑 경험을 제공할 것으로 예상됩니다.
Skipify의 네트워크에는 이미 American Express, Mastercard, VISA 및 Synchrony와 같은 주요 카드 발급사가 포함되어 있습니다. 1억 장 이상의 소비자 카드를 보유한 Skipify의 플랫폼은 2025년 말까지 미국 소비자 2명 중 1명을 인식할 것으로 예상됩니다.
Skipify et Discover Global Network ont annoncé un partenariat stratégique visant à améliorer les expériences de paiement numérique. La collaboration se concentre sur la mise en œuvre d'une technologie de tokenisation avancée pour améliorer la sécurité et simplifier les processus de paiement pour les titulaires de cartes Discover.
Grâce au Commerce Identity Cloud de Skipify, le partenariat remplacera les informations sensibles des cartes par des tokens cryptés, visant à réduire la fraude et à améliorer la sécurité des données. L'intégration devrait augmenter les taux d'autorisation et de conversion pour les commerçants participants tout en offrant une expérience d'achat plus fluide.
Le réseau de Skipify comprend déjà de grands émetteurs de cartes tels qu'American Express, Mastercard, VISA et Synchrony. Avec plus de 100 millions de cartes consommateurs, la plateforme de Skipify devrait reconnaître 1 acheteur sur 2 aux États-Unis d'ici fin 2025.
Skipify und Discover Global Network haben eine strategische Partnerschaft angekündigt, die darauf abzielt, die digitalen Zahlungserlebnisse zu verbessern. Die Zusammenarbeit konzentriert sich auf die Implementierung fortschrittlicher Tokenisierungstechnologien, um die Sicherheit zu erhöhen und die Checkout-Prozesse für Discover-Karteninhaber zu optimieren.
Durch die Commerce Identity Cloud von Skipify wird die Partnerschaft sensible Karteninformationen durch verschlüsselte Tokens ersetzen, um Betrug zu reduzieren und die Datensicherheit zu verbessern. Die Integration wird voraussichtlich die Autorisierungs- und Konversionsraten für teilnehmende Händler steigern und gleichzeitig ein nahtloseres Einkaufserlebnis bieten.
Das Netzwerk von Skipify umfasst bereits große Kartenherausgeber wie American Express, Mastercard, VISA und Synchrony. Mit über 100 Millionen Verbraucherkarten wird erwartet, dass die Skipify-Plattform bis Ende 2025 jeden zweiten US-Käufer erkennt.
- Strategic partnership expands Skipify's network to include all major card issuers
- Enhanced security through advanced tokenization technology
- Potential for improved authorization and conversion rates for merchants
- Platform projected to reach 50% of U.S. shoppers by 2025
- None.
Insights
Discover's partnership with Skipify represents a strategic enhancement to their digital payments infrastructure, focusing on advanced tokenization technology that replaces sensitive card data with encrypted tokens. This security-focused collaboration has dual benefits: strengthening fraud prevention while potentially improving authorization rates for merchants.
The integration addresses a critical friction point in e-commerce - checkout abandonment. By enabling a more seamless checkout experience through Skipify's Commerce Identity Cloud, Discover gains access to technology that could meaningfully boost transaction completion rates. The system's ability to recognize shoppers through their digital identity represents the evolution of friction-reduced commerce.
What's particularly notable is how this partnership positions Discover within the broader payments ecosystem. With Skipify already integrating with other major networks (Amex, Mastercard, Visa, Synchrony), this move appears more defensive than revolutionary - ensuring Discover doesn't fall behind in offering modern payment capabilities. The tokenization implementation represents table stakes in today's security-conscious payment landscape rather than a market-differentiating advantage.
For merchants accepting Discover, this integration could deliver incrementally higher conversion rates without requiring additional implementation work, making it a frictionless improvement to their payment stack.
This partnership with Skipify aligns with Discover's need to maintain competitive parity in the digital payments space while addressing two key performance metrics: authorization rates and fraud prevention. While financial terms remain undisclosed, the strategic value lies in potential transaction volume growth through reduced checkout abandonment.
Tokenization technology typically delivers measurable ROI through two channels: reduced fraud losses and higher approval rates. For Discover, with its vertically integrated issuer-network model, both benefits flow directly to their bottom line, unlike competitors who may share these advantages with issuing bank partners.
The competitive context is important here - Skipify's existing integration with every other major card network (Amex, Mastercard, Visa, Synchrony) suggests this move was necessary to avoid competitive disadvantage rather than creating distinct market advantage. With Skipify claiming access to over 100 million consumer cards and ambitious goals to recognize half of U.S. shoppers by year-end, Discover's participation ensures they won't be excluded from this growing checkout platform.
From a financial perspective, incremental improvements in authorization rates typically translate directly to revenue growth without proportional cost increases, creating positive operating leverage. However, without disclosed implementation costs or volume projections, the near-term financial impact remains modest relative to Discover's overall business.
Skipify's Commerce Identity Cloud to provide secure and seamless shopping experience for Discover cardholders
In the early phases of the project, Skipify will integrate advanced tokenization technology from the Discover® Network, enhancing security by replacing sensitive card information with encrypted tokens. Both automatically provisioned and manually entered cards in Skipify will be tokenized with Discover, aiming to reduce fraud and safeguard customer data during the transaction. The enhanced security can also improve authorization and conversion rates for merchants, delivering a more seamless and satisfying experience for both them and their customers.
Skipify's collaboration with Discover signifies a shared commitment to advancing the future of commerce through innovation. The two companies will continue to align product development roadmaps to develop new digital shopping experiences that meet the evolving needs of consumers and businesses.
"Discover is committed to building network tokenization services and ensuring they're available to merchants and consumers in an impactful way. Skipify helps us do this in real time at online checkout," said Judith McGuire, the Head of Global Products at Discover® Global Network. "Because of our direct connection with Skipify, we can enable both current and future capabilities without merchants or consumers needing to do additional work to reap the benefits."
"We are very excited to partner with Discover, a pioneer in the card industry recognized for their commitment to cardholder security and benefits," said Ryth Martin, Founder and CEO of Skipify. "We're building a new standard in payments where people can check out using just their digital identity, and we're thrilled to have Discover join us on this journey."
Discover adds to Skipify's existing and growing network of integrated card issuers and networks, which already include American Express, Mastercard, VISA and Synchrony. With more than 100M consumer cards, Skipify's Commerce Identity Cloud is on track to recognize 1 in every 2 U.S. shoppers by the end of 2025.
About Discover
Discover Financial Services (NYSE: DFS) is a digital banking and payment services company with one of the most recognized brands in
About Skipify
Skipify is a fintech company based in
Skipify has been recognized as a Fast Company Best Workplace for Innovators, Top 100 Financial Technology Company, "The Future of Payment Infrastructure" by Money20/20, and a CB Insights Retail Tech 100 honoree. Skipify is backed by some of the world's leading fintech and commerce enablement investors, including Samsung NEXT, Amex Ventures, Synchrony Ventures, Okta Ventures, Point72, Flourish Ventures, Infinity Ventures, PayPal Ventures, Vinyl, Worldpay, and BDT & MSD Partners. For more information visit https://www.skipify.com/.
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SOURCE Skipify
FAQ
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