For merchants, gateways and banks wanting to deploy EMV network tokenization to reduce (card-not-present) fraud and increase card approval rates, certification and integration to a wide array of scheme tokenization services is challenging. Rambus Token Gateway is a certified solution that acts as a single tokenization hub for token requestors to remove complexity and shorten time to market.
Bringing the Benefits of Network Tokenization to Online Transactions
Token Gateway serves as a single interface to multiple network tokenization services to request EMV payment card tokens. As a scheme-certified solution, Token gateway enables token requestors, such as merchants and payment service providers (PSPs), to shorten their time to market, reduce cost due to limited PCI compliancy requirements and avoid manual updates when tokenization specifications get updated. Token Gateway supports tokens both for digital wallets (host card emulation) and e-commerce (card-not-present).
Unlike PCI tokenization where payment card data is only tokenized in the database, EMV tokenization uses tokens throughout the transaction network and therefore poses less fraud risk. EMV tokens also keep card information up to date when cards get stolen or expired, meaning that consumers no longer need to update their card details manually.
By providing EMV network tokenization for ecommerce transactions, Payment Service Providers (PSPs) and merchants are able to improve the level of trust and reduce the number of false declines, resulting in higher transaction approval rates, customer conversions and ultimately increased revenue for merchants.
What is Card-on-file EMV Payment Tokenization?
The way we pay is changing. Consumers are now using their PC, smartphones, wearable devices and even cars to buy goods and services. The size and value of the card-not-present (CNP) market, therefore, is increasing exponentially as payment use-cases across e-commerce, m-commerce and the Internet of Things (IoT) emerge and mature. Although payment methods utilizing card-on-file offer convenience, they also create challenges. EMV payment tokenization can significantly enhance the security of card-on-file payment methods, while increasing convenience and simplifying the user experience.
How the Rambus Token Gateway works
Token Gateway can integrate to EMV tokenization services that include Visa Token Service (VTS), Mastercard Digital Enablement Service (MDES), American Express Token Service, Discover Digital Exchange (DDX) as well as local debit scheme token service providers such as Interac (Canada) and eftpos (Australia)
Requesting a Token with Rambus Token Gateway
(1) Token Gateway receives the card number from the token requestor
(2) Token Gateway routes it to the appropriate EMV tokenization service to request a network token
(3) The EMV tokenization service validates the card number with the card issuer
(4) The issuer approves the request and validates the token
(5) The EMV tokenization service returns a network token to Token Gateway
(6) Finally, Token Gateway shares a reference ID of the token with the token requestor (6).
- Single interface to all EMV tokenization services, reducing manual integration work
- Always aligned to latest tokenization specifications
- Reduces fraud risk and card-not-present liability
- Pre-certified solution reduces time to market
- Reduces PCI compliancy requirements by removing vulnerable data from the network
- Token request: request token for card on file, guest checkout (secure remote commerce), IoT or digital wallets
- Lifecycle management: delete, suspend or resume tokens based on their lifecycle stage
- Replenishment: automatically replenish limited-use keys
- Secure storage: store tokens including payment account reference (PAR) data in secure token vault
- Customer service portal: a single dashboard overview to change the state of a token or retrieve token data, regardless of the tokenization service
- Customer Service Portal
- Token Requestor Service
- Issuer APIs
- Payment Gateway
- 3DS Merchant Plug-in
5 Reasons Why e-Commerce Sites Need a Token GatewayCard-on-file is fundamental to the digital commerce ecosystem, as it facilitates the delivery of payment methods such as one-click ordering and recurring payments. As merchants and PSPs move towards implementing card-on-file EMV payment tokenization, solutions that simplify integration and ongoing maintenance, while adding additional value, can deliver considerable competitive advantages. Token Gateways are gaining momentum in response to this, but why does the investment make sense for e-commerce retailers?