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Tokenisation 2.0: Are we ready for the next generation of payment security?

The Payments Association

Tokenisation is now a core enabler of secure, interoperable digital paymentspowering embedded finance, asset tokenisation, and evolving identity flows. Once a system for masking sensitive data, tokenisation has evolved into a foundational technology for enabling secure, interoperable, and scalable digital payments.

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How tokenisation has reshaped the future of payments

The Payments Association

The quiet revolution Since Mastercard developed the initial standard in 2013 , tokenisation has rapidly shifted from an optional security enhancement to an industry standard. The evolution represents more than enhanced security protocols, it constitutes a complete reimaging of payment credential architecture.

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Mastercard And Visa Tag-Team Tokens

PYMNTS

In a mutual commitment to accelerating the adoption of an open digital wallet, global card networks Mastercard and Visa announce their agreement to allow each network to request tokenized credentials from the other when consumers are transacting across any digital medium — in app, online and in store. Tokens Get Turbocharged.

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Here’s Everything That Happened Singapore Fintech Festival 2024 in 10 Key Highlights

Fintech News

However, challenges remain, particularly regarding interoperability. To address this, stakeholders including NETS Group and Liquid Group are working on interoperable QR payment solutions that are designed to simplify processes for merchants, Chia said.

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Mastercard Launches Digital Wallet Strategic Partnerships

PYMNTS

Mastercard announced today (Oct. The agreements will allow Mastercard cardholders to use the mobile wallets to shop online at the hundreds of thousands of merchants around the world where Masterpass is accepted. 24) a host of new strategic partnerships to bring online payments capabilities to digital wallets users in the U.S.

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The Digital Wallet Revolution: How It's Reshaping Consumer Behaviour and Payment Infrastructure

Finextra

Fraud Reduction: Mastercard reports that tokenized transactions see up to 50% less fraud than conventional card transactions. Digital ID Enablement: Wallets are becoming enablers of KYC-lite onboarding , travel document storage , and credential sharing. These mechanisms make wallets more secure than traditional card rails.

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Visa Says Tokenized Transactions Hit $1T Mark, Sets Click-to-Pay Transition

PYMNTS

As reported last year, the major networks – including American Express, Visa, Mastercard and Discover – said they would implement the EMV Secure Remote Commerce standard, with click-to-pay technology, with wide availability beginning in 2020. Click-to-pay is interoperable with the EMVCo tokenization and the 3-D Secure specifications.