Beyond tokenization: Ensuring secure mobile payments using dynamic issuance with on-device security and management

Beyond tokenization: Ensuring secure mobile payments using dynamic issuance with on-device security and managementThis 15-page white paper explains why card issuers looking to deploy HCE mobile payments should not rely on tokenization alone to secure their services and describes in detail the security, distribution and management challenges that need to be addressed for the successful rollout of cloud-based mobile payments.

It includes an overview of how cloud-based payments using tokenization and HCE are currently deployed, including the digital issuance and tokenization processes and the role of the application management system.

The role of on-device software, the threats and attack types faced by HCE service providers and why issuers should consider the dynamic management of account data are all covered in detail.

“The lack of secure element hardware storage in the handset creates the need for strong software based solutions to mitigate the risk of storing sensitive card data on phone memory,” the authors say. “It is a misperception that tokenization alone provides the necessary security and risk management that banks need.”

This paper is sponsored and produced by Sequent and approved by the NFC World+ editorial team.

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This item is part of the What's New in Payments Knowledge Centre.