Sign up for The Paypers newsletter Follow The Paypers on LinkedIn Follow The Paypers on Twitter Follow The Paypers on Facebook Follow The Paypers on Google +
The Paypers, paypers, Insight in payments, News, Reports, Events
 advertisement
Digital Identity, Security & Online Fraud

Token opens up to merchants using Mastercard

Friday 17 November 2017 | 02:41 PM CET

Fintech startup Token has inked a partnership with payment processor Marqeta and Mastercard that expands its reach in the online retail space.

Token is a mobile app that lets a user disguise his payment details online, by creating an alter ego for each online purchase or for each online merchant where he has an account. For instance, instead of providing AT&T with an actual credit card or banking information, Token will create an alias for the user by tokenizing their card or banking number and providing the user with an alter name and card number that they can use to pay their AT&T bills.

Once a transaction is made using that digital token, then that token will be linked with that specific merchant. On the other side, the merchant will always know the true identity of the payer. That way, they will always know how to get in touch with the user for missing a payment or other such issues.

To use Token, a user must register with the app in a two-step verification process. The first is linking a social account (Facebook or Linkedin) and the second, is linking bank account or credit card information.

Token does not store the data provided by the user, neither is the data saved online. Instead, the information is tokenized by third party external partners such as Plaid and Stripe.

More: Link
 advertisement
 advertisement
 advertisement
 advertisement