Bell ID’s tokenization manager, which has already been deployed worldwide to support mobile NFC payments, provides Token Service Provider functionality in line with the EMV Payment Tokenization Specification – Technical Framework v1.0. It will be used by token requesters such as card issuers to manage payment tokens, digital wallet providers to deliver tokens to support mobile NFC payments, and merchants to replace card on-file storage of PANs.
EMV payment tokenization is the process of replacing a personal account number (PAN) with a unique identifier, known as a ‘payment token’. The payment token can only be used in a specific domain such as a merchant’s online website, or channel for example a mobile device to make a near-field-communication (NFC) payment.
The solution operates and manages a secure repository, referred to as a token vault, which maintains a link between the payment token and real PAN. It also generates the payment token and associated cryptographic data, provides de-tokenization services for transaction authorization and clearance, and delivers access to issue and manage the lifecycle of the token.
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