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Account Tokenization

Proven to significantly reduce the risk and impact of fraud in payment card transactions, tokenization can be extended to account-based transactions for the same proactive security, risk management, confidentiality, and privacy functions of account credentials.

Payments SolutionsProduct BriefDescription
Payment Account Tokenization
Enables central banks and financial institutions to secure account-based transactions like RTP and ACH with tokenization

Account-based Payment Solutions

Real-time payments (RTP) and direct debit (ACH) payments – where transactions are made using account credentials rather than payment cards – are seeing increasing levels of fraud. Payment Account Tokenization leverages a proven process used to secure mobile payments to replace the valuable account credentials with non-sensitive, restricted use tokens.

How Payment Account Tokenization works

Diagram for Enabling Mobile Payments for NFC devices

This process can significantly reduce the risk and impact of account-based fraud to support the development of a safe and secure instant payments framework. The ability to tailor the security level of tokenization itself – by adding domain controls or cryptograms – are also key security measures as tokens used outside of their pre-defined parameters are automatically declined.

Download Real-time Payments and How to Secure Them

Real-time Payments and How to Secure Them

In today’s digital, on-demand world, we have instant access to information, products and services. Digitization and digitalization has driven this change, and we are now accustomed to almost instant payments via cards, web services and apps. The development of instantaneous payments between bank accounts is therefore a natural evolution. Real-time payments are growing in use as they are adopted by more and more countries and the potential use-cases grow. Mitigating risk in a world where everyday transactions are increasingly dominated by digital technology and instant processing is vital.

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Download Securing Real-time Payments with Payment Account Tokenization

Securing Real-time Payments with Payment Account Tokenization

Real-time payments (RTP) have been proliferating globally since 1973, increasingly driven by the need for payments clearing to keep pace with today’s on-demand digital world. But the shift from traditional automated clearing systems to ‘faster payments’ brings challenges. Payment Account Tokenization addresses the issue of fraud head on. The ability to tailor the security level of tokenization itself – by adding domain controls or cryptograms – will also be key as tokens used outside of their pre-defined parameters are easily identifiable and the transaction can be automatically declined.

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Related Markets & Applications

Financial
Mobile Edge