Vaiu Global Unveils Tokenization Software to Enhance FedNow Security and Usability in Banking [Video]

Vaiu Technology: A Simple, Low-Cost Solution for Banks to Accelerate the Adoption of Secure Real Time Payments

LAS VEGAS, Oct. 28, 2024 /PRNewswire/ — Vaiu Global, a software technology provider, unveiled its innovative Ephemeral Token Software at Money 20/20 in Las Vegas, today. The software aims to accelerate the adoption of instant payments, including the U.S. Federal Reserve’s FedNow® real-time payments system across banking.

Vaiu will be one of the first value-added services to enhance the security and usability of FedNow®. The company’s software protocol enables banks to effortlessly implement token-based bank withdrawals and deposits – eliminating the need to exchange credentials (account or personal information, including ID, phone numbers, and email) when making a payment. Vaiu bank tokens are represented by six recognizable characters that are easy to read, write, and speak – offering a consistent and universal payment experience.

Vaiu’s patent-pending software seamlessly integrates with legacy banking systems to enable safer withdrawals, spending, giving, and depositing, utilizing industry-wide real-time payment rails. This …