With the rise of mobile payment services such as Apple Pay and Samsung Pay becoming appealing options to consumers, tokenisation technology is gaining traction amongst companies and consumers alike.
The process, which involves replacing traditional payment card account numbers with unique digital tokens for online and mobile transactions, has very appealing security features . The replacing tokens allow payments to be made without revealing account details that could have otherwise been compromised.
This infographic from Visa breaks down the way the tokenisation process works, as well as how and where the tokens are used.
Whitepapers
Related reading
5 ways blockchain can change the cross-border payments landscape
Cross-border payments is a changing sector of the industry, driven by customers demanding little to no friction and encountering multiple steps, intermediaries ... read more
The SME technology revolution | video
The UK is home to 5.4m micro SMEs that have fewer than nine employees, according to the House of Commons library. They ... read more
JP Morgan blockchain network showcases banks’ DLT progress
JP Morgan’s expansion of its blockchain-based interbank payments project signals that major banks are stealing a march on disruptors and startups by ... read more
Security a priority for EU’s INATBA blockchain taskforce
The European Commission’s new blockchain initiative, the International Association for Trusted Blockchain Applications (INATBA), should focus on quashing extant security concerns around ... read more
