With the launch of Apple Pay in Japan, consumers will soon be using their iPhones and Apple Watches to pay for goods and services with a simple touch. Banks are therefore looking to integrate with Apple Pay quickly and efficiently.
Integrating with Apple Pay
IBM Japan – using Rambus’ complete token service provider (TSP) technology – will support Japanese banks with Apple Pay integration and mobile payments security across a range of international payment schemes and, importantly, the FeliCa regional scheme.
Issuing banks can now work with IBM Japan to manage the real-time enrollment, provisioning and tokenization needed to offer Apple Pay to account holders. Tokenization removes sensitive payment credentials from the transaction process, replacing them with a ‘token’. This means that it is virtually worthless if intercepted by fraudsters, as the token can only be mapped back to a customer’s original account details by authorized parties.
Rambus TSP solution also supports customer enrollment through authorized third-party apps. This gives greater flexibility, choice and convenience to end-users as, for example, they have the option to authenticate themselves using existing credentials in their mobile banking application.
We are excited to be involved in this project as well as a wide range of other TSP implementations around the world. To keep up to date with our latest projects and innovations, sign up to our newsletter or get the latest from Twitter and LinkedIn.