Visa Inc. has released a few more details of its planned tokenization service, which it announced last week as part of its Visa Digital Solutions “suite of offerings.”

Visa, which said the tokenization service will launch in September, apparently plans to operate the service itself, as was expected. A Visa spokeswoman told NFC Times that Visa would create a “token vault,” which it said would “instantly” issue and manage tokens on behalf of issuers. 

“When Visa account holders initiate online purchases or transactions with mobile devices using their 16-digital account number, Visa’s token vault can instantly issue a token to replace the 16-digit account number,” she told NFC Times. “The token, and not the primary account number, will be used to process the transaction, just like a traditional card payment. This process is invisible to accountholders and merchants.”