Tokenization Management software for payments allows issuers and payment processors to perform the role of a Token Service Provider: entities that are responsible for the generation, storage, de-tokenization and lifecycle management of dynamic personal account numbers (PANs)/ tokens within a transaction as defined by EMVCo.
Tokenization Management is used by card issuers to manage payment tokens, digital wallet providers to deliver tokens to support NFC payments, and merchants to replace card on-file storage of PANs.
Such a solution offers the APIs, token vault, token provisioning and lifecycle management functionality required to:
Tokens are used in a number of environments to replace and protect the underlying value of credentials. Tokenization is already a de facto requirement for a number of card payment environments: card-on-file, mobile NFC payments and in e-commerce/m-commerce. The critical question for most issuers is not ‘if’ to tokenize but ‘where’ to tokenize.
EMV payment tokenization replaces the need for merchants or digital wallet operators to store PANs. Personal account numbers are protected by replacing them with a unique alternate or dynamic PAN. These tokens can only be used temporarily at designated channel or merchant; card data obtained from data breaches are therefore useless. It also provides increased control by facilitating card-not-present payments and removing confidential consumer credit card data from the network.
The Rambus Tokenization Manager enables token requesters such as banks, digital wallet providers and merchants to securely manage and replace personal account numbers for EMV card and mobile NFC payments.
Mobile Payment Ecosystem
Our Tokenization Manager operates and manages a secure database, the token vault, where the mapping between the real PAN and the dynamic PAN is stored. To authorize a transaction, Tokenization Manager de-tokenizes the PANs and offers support for clearing and settlement. It also generates cryptographic data and gives access to securely manage the lifecycle of the token.
Tokenization Manager can be used as a stand alone product or in combination with e.g. an HCE card provisioning platform, such as Secure Element in the Cloud.