Tokenization

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.

Regalii has changed its name to arcus and switched from cross-border bill payment to helping banks use tokenization to reissue lost, stolen or breached cards.

When EMV chip cards were launched in the U.S., the initial fear in the security and payment industries was that fraud would migrate to e-commerce. But the migration has actually moved further along to the more lucrative venue of real-time Fed-mandated ACH payments.

PCI compliance can't solve all security problems. EMV, encryption are all necessary to protect merchants from data breaches, writes Jeff Zimmerman, COO of Clearent.

Many of the same protections for mobile payments, such as tokenization and single-use keys, can come into play to protect in-car payments, according to Jim Carroll, chief technology officer at Mobica.

FitPay's wallet and digital payment platform, which will integrate with the tokenization platform, enables manufacturers of IoT and wearable devices to add contactless payment capabilities to their products.

Citing a need for merchants to better understand payments behavior across various digital channels, Visa has launched Token Management Service for its global clients.

Rambus has provided the data technology under the hood of Nintendo and PlayStation games since the 1990s, and later became a global token service provider. The next logical progression is mobile payments.

Overstock CEO and Wall Street gadfly Patrick Byrne wants to create a market free from trading practices he has long decried.

Most merchant processors’ current point of sale software allows you to send the credit card information once and you capture a token versus the actual credit card number, writes Michael Lewis, CIO of Copper State Communications.

Consumers are increasingly concerned about payment card fraud, but it remains to be seen how much work they’re willing to do to protect themselves when they’re not directly liable for monetary losses from stolen cards.

The Clearing House has become one of the first Mastercard-certified, third-party token service providers on behalf of issuing banks.

In the wake of the massive data breach at Equifax, some are calling for tokenization of all data that has the potential to be stolen by fraudsters.

It's not just Equifax that needs to worry. The incident can and should be a turning point for the financial services industry, a warning that it needs to end its reliance on static personal identifiers.

If tokenization can help us recapture liquidity not only for currencies, but by digitizing the value of all assets, time and work in a more flexible, fair exchange, that’s exciting, writes Jason English, vice president of protocol marketing for Sweetbridge.

As the digital age reduces the wear on physical cards, how is it that some consumers are requesting new cards more frequently?