Tokenization

As bankers' skepticism about blockchain deepens, crypto firms should demonstrate how the technology can help financial companies, such as by extending access to the underbanked, says Hinkes, a prominent advocate of blockchain.

Online retailers must accept hacking, malware and phishing as a reality of doing business in our digital world, but tokenization can make the prize less worthy for crooks, according to André Stoorvogel, director of product marketing for Rambus Payments.

Transaction Network Services has entered a partnership with cloud-based mobile commerce provider P97 to provide a managed tokenization service for mobile and in-vehicle payments.

With real-time payments advancing, processors need to shore up security, according to David Worthington, vice president of payments at Rambus.

If cryptocurrency is ever going to become a viable payment option, it has to have bank-grade security — and bank support.

Visa is expanding its Visa Token Service commercially with 20 acquirer/gateway partners it feels can immediately add scale for using interoperable Visa tokens in addition to the partners' own as credential-on-file token requestors.

To remain competitive, retailers must always have one eye on the future. Mobile wallets offer a strategic platform for retailers to harness and promote emerging payment models, writes Julian Wallis, retail director at Rambus.

Card-on-file tokenization systems enable payment details to be instantly refreshed when a card is lost, stolen or expires, according to André Stoorvogel a director at Rambus.

New Merchant Advisory Group chief John Drechny will push open standards for payments acceptance and security technology that doesn't impact customer experience.

Tokenization as a technology is suitable to support multiple payment use cases via a single system, ensuring emerging commercial models and the ability to adapt to new requirements are not constrained by an inflexible security framework, writes David Worthington, vice president of payments at Rambus.