Amid the accelerating transformation of digital healthcare payments in Taiwan, Visa announced today (August 8) a partnership with the remote medical payment tool "Yizhifu+" app to officially introduce Visa's tokenization technology. This will provide higher-level security protection for over one million members and 7 medical institutions, thereby enhancing the healthcare payment experience and driving the industry's digital upgrade.
Visa's tokenization technology converts the traditional 16-digit credit card number into an untraceable code (token), effectively reducing the risk of fraud. Since its launch in 2014, over 100 billion tokenized card numbers have been issued worldwide, and by 2023, it had successfully prevented fraud losses totaling US$6.5 million (approximately NT$205 billion).
Visa Taiwan General Manager Huang Huiqin said, "This collaboration with 'Yizhifu+' to apply coding technology makes medical payments safer and more convenient, while also setting a new benchmark for digital healthcare security. We will continue to use innovative payment technologies to help Taiwan's healthcare system build a trustworthy digital payment environment."
As Taiwan's first payment tool designed specifically for medical scenarios, "Yizhifu+" not only allows patients to avoid the tedious process of queuing to pay, but also provides functions such as remote input of medical information, online payment and medical record management, helping users to more conveniently take care of the medical needs of themselves and their families.
Wu Mingyan, General Manager of Daguang Hospital Management Consultants, noted that Taiwan sees nearly 4 million medical visits annually, creating a growing demand for efficient and secure payment tools. Following this year's upgrade, "Yizhi Pay+" has introduced password enhancement, biometric login, and 3D verification for card binding. This further deepens its partnership with Visa, introducing internationally recognized encryption standards to fully safeguard the privacy and security of every transaction.
In addition to its core tokenization technology, Visa also offers a number of innovative value-added services, such as Visa Payment Passkey, Click to Pay, and one-click card binding. These services not only further improve transaction authorization success rates but also help businesses strengthen customer loyalty and create business growth.
Visa stated that it will continue to work with more medical, financial and technology partners in the future to jointly build a medical payment ecosystem that is both convenient and highly secure, helping Taiwan's medical industry achieve full digitalization.
