Payments News from Glenbrook Partners
Glenbrook   Book   Education   Jobs   Views   Archives   Store   Advertise   About         SUBSCRIBE:

EMVCo Publishes Technical Framework for its Payment Tokenisation Specification

EMVco logo 140pxThe EMV Payment Tokenisation Specification - Technical Framework v1.0 has been published by EMVCo. The technical document is designed to allow market implementers to develop interoperable tokenisation solutions.

The new specification will help provide the payments community with a consistent, secure and globally interoperable environment to make digital payments when using a mobile handset, tablet, personal computer or other smart device. This will encourage industry efficiencies and security enhancements for digital commerce.

From a technical perspective, the document provides an insight into the role the specification will have in facilitating broad-based acceptance of a payment token as a replacement for a traditional card account number. This includes data message formats to ensure the interoperability of tokens and the consistent approach that should be used to route and authenticate a payment token. The framework also explains how security can be improved by limiting payment tokens for use in a specific environment, and how an existing ecosystem can advance to become globally interoperable.

Dave Meadon, current EMVCo Executive Committee Chair, comments:

It is vital that we have a consistent approach to identify and verify a payment token request, which is supported by industry agreed channel controls to manage where and when the payment token can be used. This level of consistency eliminates data vulnerabilities at key points in the transaction, which ultimately enhances security.”
EMVCo has publically released this document to encourage industry adoption of the specification and aid its evolution. The new specification will maintain compatibility with the current payment infrastructure and will be complementary to the existing EMV Chip Specifications to ensure consistency across all payment environments.

Add your comment... (note that all comments are reviewed before they're published)

Feed You can follow this conversation by subscribing to the comment feed for this post.

If you have a TypeKey or TypePad account, please Sign In

Glenbrook Partners

PAYMENTS NEWS IS PRODUCED BY AND IS A SERVICE MARK OF GLENBROOK PARTNERS, LLC
ISSN 1556-4487

Glenbrook's Consulting Services

  • Innovation and Strategy
  • Payments Product Development
  • Payments Market Assessments
  • Payments Vendor Selection
  • Merchant Payments Optimization
  • Payments Risk Management
  •  
  • To discuss how Glenbrook can
    help you
    , email us:

Glenbrook's Payments Education

  • Payments Boot Camps
  • Payments Essentials Webinars
  • Private Payments Workshops
  •  
  •  
  •  
  •  
  • For more information on Glenbrook's payments education, email us:

Tools for Payments Professionals

  • Glenbrook Writings
  • Payments News
  • Payments Views
  • Payments Jobs
  • Payments Education
  • Payments Bookstore
  •  
  • To send us news that you'd like us to cover on Payments News, email us:

Contacts:                        
Compilation Copyright © 2002 - 2014 Glenbrook Partners LLC. All Rights Reserved.
Terms of Use        Privacy Policy        RSS Feed        Payments News RSS Feed

Subscribe to Payments News   

Follow Payments News on Twitter for Real-Time Updates