Tokenization is the process by which payment account information is replaced by an alternate value called a token. Issuers, merchants and processors who use tokens are able to reduce the risk that sensitive cardholder data may be stolen by data thieves.
Gemalto and HPS are offering an integrated and modular tokenization solution to provide payment services providers with a mobile payment platform that is agnostic of the consumer device: it secures payment credentials across HCE-enabled handsets, Secure Elements (embedded and SIM) and Trusted Execution Environment (TEE) or any combination thereof. The solution, available in hosted or on-premise modes, can be used by any card issuer and any card payment scheme.
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