Tokens are nothing new. PCI tokens, encrypted card credentials held in vaults by processors, have been part of payments for years.
But version 2.0 of the EMVCo’s Payment Tokenization Specification, announced last month, is out to change that. Call it an upgrade, perhaps, as it focuses on eCommerce and is geared toward reducing fraud associated with primary account numbers (PANs), Rambus’ CTO Chakib Bouda explained in the latest Topic TBD.
