This 12-page white paper by Rambus clarifies the function of the token service provider within a tokenized payment system and evaluates the commercial and security benefits of adopting the role.
It begins by describing the process of tokenization and how it is used to authenticate mobile payments and reduce fraud through the issuance and management of randomly generated unique identifiers or tokens. It then goes on to detail the specific roles and responsibilities of a token service provider at every stage of the payment credentials lifecycle.
The paper concludes by explaining that any entity in the mobile payments system can become a token service provider and by setting out the advantages to issuers, acquirers and merchants of controlling their own token provision.
This paper has been produced by Rambus and has been approved by the NFC World editorial team.
How to access this report
This 12-page document is available free of charge to NFC World Knowledge Centre members (PDF format, 17.5MB).
This item is part of What's New in Payments.