Press Releases

BIBD enables cardholders to pay securely on mobile devices with Rambus Token Service Provider solution

SUNNYVALE, Calif. & BANDAR SERI BEGAWAN, Brunei Darussalam – December 5, 2018 – Rambus Inc. (NASDAQ: RMBS) a leader in digital security, semiconductor and IP products and services, today announced that Bank Islam Brunei Darussalam (BIBD), the largest bank in Brunei, has selected the Rambus Token Service Provider (TSP) as part of its mobile payment strategy to enable secure transactions to its customers.

As Asia has seen a proliferation of digital payment solutions in recent years, the need to secure digital transactions has become critical to a bank’s success. With the rise of solutions such as QR-based payment, NFC (near field communication), host card emulation (HCE) and real-time payments, consumer trust has become critical to success, with security and fraud prevention more important than ever to businesses and end-users alike.

Payment tokens help minimize fraud
The Rambus TSP solution helps secure the BIBD NEXGEN Mobile banking app, allowing customers to digitize their cards and send payments, without revealing any sensitive payment information. The Rambus software platform will replace cardholders’ details with unique reference numbers to minimize the risk of fraud and the severity of data breaches. Unique payment tokens are worthless if stolen.

Tokenization and host card emulation support secure payments within BIBD NEXTGEN Mobile app
By generating temporary personal account numbers (PANs), or payment tokens, the Rambus solution is a modular platform that combines tokenization with host card emulation to enable payment issuers and processors to securely perform a wide variety of roles in the payment process. Using HCE and tokenization, BIBD will enable their cardholders to securely pay using their mobile app.

“We’re delighted to be selected by the largest bank in Brunei to secure mobile payments for BIBD’s customers,” said Chakib Bouda, vice president and CTO, Rambus Payments. “This collaboration reinforces our leadership in mobile payment and tokenization technologies. It also marks significant progress in our efforts to expand into the Asian marketplace that is seeing a boom in digital payment solutions.”

“As the security of our customers is our highest priority, we are pleased to announce our collaboration with Rambus to enable our customers to pay safely and securely with their mobile devices,” said Dr. Gyorgy Ladics, COO, BIBD. “While digital payment methods grow exponentially in the marketplace, customers are becoming increasingly mobile-centric; therefore, it’s imperative to facilitate mobile transactions in a hassle-free and secure manner, providing the ultimate ease of mind for our customers.”

Figure 1: Rambus Token Service Provider

For more information on Rambus mobile payment solutions, visit rambus.com/payments. Or, to learn more about the Rambus Token Service Provider solution, go to rambus.com/security/payments/token-service-provider/.

Better user experience and improved security for transactions with online merchants

SUNNYVALE, Calif. and SYDNEY, Australia – October 24, 2018 – Rambus Inc. (NASDAQ: RMBS) and American Express Australia today announced a new collaboration to help merchants enrich and secure e-commerce and m-commerce transactions with tokenization. Rambus Token Gateway will enable global online merchants, payment service providers and acquirers to quickly and securely connect to the American Express Token Service and tokenize card-on-file e-commerce transactions. With this collaboration in place, Rambus is the first solution provider to offer an off-the-shelf retail token gateway solution with American Express embedded.

Tokenization mitigates fraud by replacing sensitive payment account information with a non-sensitive equivalent, known as a token, that cannot be used outside the scope of the original transaction. Designed to reduce complexity, the Rambus Token Gateway provides a single, easy-to-use interface which enables merchants to connect to tokenization services from various payment schemes in the payment industry.

Robert Tedesco, vice president, Global Consumer Services A/NZ at American Express said: “This new partnership with Rambus will mean merchants can offer our card members even more secure payment methods at the time of checkout. We’ll also to be able to offer merchants access to our digital payment capabilities such as Pay with Points and Smart Offers, to further build customer loyalty with their customers that use American Express cards. We look forward to expanding this relationship in the future to further improve the buying experience.”

Advantages for card issuers, acquirers, merchants and consumers

Because the American Express tokenization services have been integrated at the platform level in the Rambus Token Gateway, merchants will have access to all the current American Express capabilities along with new features as they are added, all without significant ad-hoc or custom work required.

• Customer convenience and confidence – Consumers no longer need to update card details following a card reissue, reducing frustration. Knowing that their card details are not shared with merchants will also increase trust and the number of consumers willing to shop online safely and securely.
• Quick time to market – Merchants reduce the need for end-to-end development activities and can launch a token-on-file initiative more quickly.
• Reduced fraud – Real card account numbers are replaced with tokens that are more secure and may help lower the risk of fraud.
• PCI compliancy – As merchants don’t have to store vulnerable data, their payment card industry (PCI) compliancy requirements are limited.
• Flexibility – Merchants can engage with payment service providers or acquirers of their choice while still benefiting from e-commerce tokenization.
• Cost savings – Token Gateway assures that merchants are constantly aligned with the latest card scheme tokenization specifications, eliminating the need for manual integration work.
• Single interface – Token Gateway provides a single interface to connect with all contracted token service providers, supporting a variety of messaging interfaces.

Jerome Nadel, SVP/GM of Payments and Ticketing and CMO, Rambus commented: “Fraud continues to rise for e-commerce transactions and we need to give consumers more secure payment methods without compromising usability. By facilitating the use of tokens online, merchants and card issuers can increase trust in transactions throughout the ecosystem to drive higher authorization rates and improved customer conversions, resulting in greater revenues.”

Merchants across the globe are able to benefit from this joint collaboration immediately. 

For more information on Rambus’ tokenization solutions, visit rambus.com/security/payments/.

Deploys proven, bank-grade tokenization and encryption technologies for virtual assets  

SUNNYVALE, Calif. and Las Vegas, NV – Oct. 22, 2018 – Ushering in a new level of security for blockchain implementations, Rambus Inc. (NASDAQ: RMBS), today announced the availability of Vaultify Trade. The platform enables the secure storage and transfer of crypto and digital assets using proven, bank-grade, field-deployed tokenization and encryption technology. Vaultify Trade is the first product that enables banks, exchanges and investment portals to leverage tokens to secure the purchase, storage, exchange and sale of cryptocurrencies.

451 Research Director, Jordan McKee explains: “While cryptocurrencies represent significant opportunities, a major risk factor is that they are prone to theft, in large part due to the lack of strong security solutions for the blockchain. This undermines consumer confidence and limits the ability for financial services companies to offer products that help comply with regulations and best practices. With additional trust and transparency, the potential for cryptocurrencies to transform financial services can be realized.”

Blockchain is gaining increased traction across industries with the decentralized public-ledger framework opening new use cases daily, extending beyond cryptocurrency into financial services, retail, real estate, healthcare and insurance. While it provides a trusted and immutable record, the blockchain is not completely secure. Blockchain stores assets of value at an address in a public ledger using a private key. Much like a card or account number to access funds, that key is all that is required to access that digital asset, and if it is lost or stolen, that value is gone. Multi-signature enhances the level of security by introducing additional distributed keys for recovery and authentication of transactions, but still relies upon the use of original keys that are vulnerable to attack. Given the high-value financial and safety-critical nature of some proposed use cases, it is imperative that nothing alters data prior to its placement on the blockchain.

Tokenizing crypto assets and the blockchain

To meet this critical market gap, Rambus has created Vaultify Trade. Vaultify Trade combines multi-signature with proven, bank-grade tokenization technology to enhance security, confidentiality and privacy by replacing sensitive credentials—such as private keys for blockchain and crypto assets—with a non-sensitive equivalent token that is unique to each transaction. Unlike the private keys used to authorize blockchain transactions, tokens cannot be used by a third party to conduct transactions if intercepted. By replacing sensitive private keys with a limited use token that can include domain controls for device or channel, tokenization mitigates fraud risk and protects the underlying value of credentials. This reduces cryptocurrency security risks, which have led to enormous losses, adverse brand impact and suspensions of trading.

“Crypto assets are on the verge of going mainstream, but many of today’s consumers find cryptocurrency to be inaccessible and confusing, and are concerned by high-profile hacks. In order to accelerate adoption, consumers are seeking a secure, familiar way to access, trade, and own crypto assets through their trusted banking or trading apps,” said Jerome Nadel, GM of Payments and CMO, Rambus. “With over 100 billion transactions secured by Rambus technology, Vaultify Trade is a logical extension of our tokenization expertise. Banks, exchanges and investment houses can now quickly incorporate blockchain technologies into their product portfolios, armed with the confidence that data, value and assets are secure.”

Designed for virtual assets on the blockchain, Vaultify Trade features include:

• Tokenized Security – Replace sensitive private keys with domain-specific tokens to secure the transaction and storage of digital assets, limit vulnerabilities and improve trust.
• Multi-Signature – Multi-signature wallets require at least two signatures to confirm a transaction, increasing security and preventing fraud, while enabling faster transactions.
• Segregated Wallets – Combine the security benefits of an offline cold wallet with the convenience of an online wallet through multi-factor authenticated access to an online segregated wallet.
• White-label app and SDK – The Vaultify platform can support a white-label app or an SDK, allowing consumers to easily access and trade cryptocurrency through their usual mobile and desktop banking portals.

To learn more about how Vaultify Trade can help your organization, please visit www.rambus.com/vaultifytrade. Or, to see a demo of Vaultify Trade, please visit Rambus during Money 20/20 in Las Vegas at the Sands Expo Center in Booth #1349.

Retail tokenization solution gives online merchants swift, seamless and secure access to the Visa Token Service

SUNNYVALE, Calif. – September 12, 2018 – Rambus Inc. (NASDAQ: RMBS) today announced that its Token Gateway for e-commerce solution is one of the first to be qualified under the “Visa Ready” for Tokenization program. This certified solution enables token requestors like online merchants, payment service providers and acquirers globally to quickly and securely connect to the Visa Token Service to tokenize card-on-file e-commerce transactions.

Tokenization is a security technology that uses a unique digital identifier, or token, to protect sensitive information like cardholder account details. By replacing sensitive account information with a limited use token, including domain controls for device or channel, tokenization mitigates fraud risk and protects the underlying value of credentials.

Benefits for merchants and consumers
The Rambus Token Gateway supports merchants in a number of ways:

• Customer convenience and confidence – Consumers no longer need to update card details following a card reissue, reducing frustration. Knowing that card details are not shared with merchants may also increase trust and the number of consumers willing to shop online safely and securely.
• Quick time to market – Merchants who integrate with Visa Token Service through Rambus do not need to wait for individual certification approval and can launch a token-on-file initiative more quickly.
• Reduced PCI compliancy – As merchants replace vulnerable cardholder payment data with secure tokens, their payment card industry (PCI) compliancy requirements may be reduced.
• Cost savings – The Rambus Token Gateway assures that merchants are constantly aligned with the latest Visa Token Service tokenization specifications, eliminating the need for manual integration work.
• Single interface – The Rambus Token Gateway provides a single interface to connect with all contracted token service providers, supporting a variety of messaging interfaces.

Proven technology for retail and e-commerce
451 Research Director, Jordan McKee notes, “The pace of digital change in financial services and retail is accelerating. We are witnessing a profound shift in consumers’ shopping preferences and habits, marked by a growing demand for omni-channel buying experiences. This is driving more transactions into digital channels and fraudsters are following the volume, eager to exploit vulnerabilities. Removing sensitive credentials from the transaction flow with a token is a critical defense that serves to safeguard consumers and revenues. Such steps ultimately improve the digital shopping experience and bring benefits to the entire ecosystem.”

“The success of the EMV® Chip Specifications in securing the physical point-of-sale means increasingly sophisticated criminals have shifted their attention towards more vulnerable e-commerce and m-commerce channels,” said Jerome Nadel, GM of Payments and CMO, Rambus. “Tokenization has been hugely successful in securing mobile payments and by using Token Gateway, we believe it can do the same job for online shopping. What’s more, increased customer confidence is likely to see higher conversion rates and reduce time spent chasing missed payments for merchants. As one of the first certified, we’re excited to support the retail community in managing customer data in faster and safer ways.”

Visit rambus.com/security/payments/token-gateway/ to learn more about the Rambus Token Gateway for e-commerce solution. Or, for additional information on Rambus products and solutions, please visit rambus.com/security/payments/.

Platform secures omnichannel payments

SUNNYVALE, Calif. and MELBOURNE, Australia – July 24, 2018 – Rambus Inc. (NASDAQ: RMBS) a leader in digital security, semiconductor and IP products and services, today announced that Coles, one of Australia’s largest retail groups, has selected the Rambus Unified Payment Platform to securely power its Digital Payment Solutions.

Unified Payment Platform with bank-grade security enhances the customer buying journey

Rambus Unified Payment Platform provides both customers and retailers with a hassle-free, omnichannel payments service. The platform can digitise payments, gift cards, loyalty cards, coupons and receipts, and bring them into a single application that can be downloaded by customers and used on mobile devices. Omnichannel commerce allows retailers to marry online and in-store shopping, offering in-aisle checkout with multiple, convenient forms of payment. The platform consolidates this payment data into a single transaction, which can be made either in-store or online.

“We are looking forward to working with Coles to build their new digital payments solution in a very exciting time of change for the payments industry. We believe that our experience in providing card, mobile and account-based solutions for banks, financial institutions and retailers alike will allow us to bring the future of payments to Coles’ customers today through a trusted experience that is fun and easy,” said Jerome Nadel, SVP of Security Products and CMO, Rambus.

For more information on Rambus’ Unified Payment Platform solution, visit rambus.com/security/payments/unified-payment-platform. Or, to learn more about Rambus’ tokenisation solutions visit rambus.com/payments.