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Tokenization involves replacing sensitive card details with tokens to facilitate secure digital payments. It works by having a payment provider request a token from a token service provider instead of actual card details when setting up a digital wallet or storing card on file. The token service provider generates a token, maps it to the card details in a secure token vault, and responds with the token. This token can then be used to process transactions, with the token service provider detokenizing it behind the scenes to retrieve the actual card number and complete the transaction securely. Tokenization standards help enable mobile wallets and digital payments while protecting consumers by avoiding storage of raw card data.
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What is a Token Service Provider?
To increase the security of mobile payments, many payment schemes nowadays apply a technology called tokenization.
Tokenization is the process of replacing an existing payment card number with a surrogate value (token).
This token is used during a payment transaction, keeping the original card number safe.
A Token Service Provider (TSP) is an entity within the payments ecosystem that generates and manages tokens.
The TSP maps the original card number with the payment tokens and stores this safely in a token vault.
Often these tokens can only be used in a specific domain such as a merchant’s online website or channel, limiting the risk even further.
A TSP manages the entire lifecycle of payment credentials including: Token Requestor Authorization Host
1. Tokenization: Replaces the PAN with a payment token.
2. De-tokenization: Converts the token back to the PAN using the token vault.
3. Token vault: Establishes and maintains the payment token to PAN mapping.
4. Domain management: Adds additional security by restricting tokens to be used within specific (retail) channels or domains.
5. Identification and verification: Ensures that the payment token is replacing a PAN that was legitimately used by the token requestor.
6. Clearing and settlement: Ad-hoc de-tokenization during clearing and settlement process.
Issuers, acquirers and merchants that wish to offer mobile and/or digital payments to customers can become a TSP.
Becoming your own TSP gives full control over the tokenization process: creation, storage, issuance and management.
By having your own TSP, you are in full control of digital payments by issuing tokens directly without third party intervention.
By using a third party TSP from the payment schemes, issuers need to integrate with each payment scheme.
Benefits of having you own TSP:
1. Reduce long term costs: no additional TSP fees from the payment schemes.
2. On-us transactions: save on transaction fees when you are the issuing as well as the acquiring bank.
3. Banks retain their privacy because data and roadmaps do not have to be shared with the schemes.
4. Keep track of customer payment behavior to gain valuable insight and be able to offer personalized services.
5. Expand to multiple use cases. Host Card Emulation Embedded SE Internet: Card-Not-Present Value added services / non-card payments
6. Have your own strategy and be future proof in order to stay competitive.
Bell ID® Token Service Provider enables issuers and processors to perform the role of a Token Service Provider.
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What is a Token Service Provider?
To increase the security of mobile payments, many payment schemes nowadays apply a technology called tokenization.
Tokenization is the process of replacing an existing payment card number with a surrogate value (token).
This token is used during a payment transaction, keeping the original card number safe.
A Token Service Provider (TSP) is an entity within the payments ecosystem that generates and manages tokens.
The TSP maps the original card number with the payment tokens and stores this safely in a token vault.
Often these tokens can only be used in a specific domain such as a merchant’s online website or channel, limiting the risk even further.
A TSP manages the entire lifecycle of payment credentials including: Token Requestor Authorization Host
1. Tokenization: Replaces the PAN with a payment token.
2. De-tokenization: Converts the token back to the PAN using the token vault.
3. Token vault: Establishes and maintains the payment token to PAN mapping.
4. Domain management: Adds additional security by restricting tokens to be used within specific (retail) channels or domains.
5. Identification and verification: Ensures that the payment token is replacing a PAN that was legitimately used by the token requestor.
6. Clearing and settlement: Ad-hoc de-tokenization during clearing and settlement process.
Issuers, acquirers and merchants that wish to offer mobile and/or digital payments to customers can become a TSP.
Becoming your own TSP gives full control over the tokenization process: creation, storage, issuance and management.
By having your own TSP, you are in full control of digital payments by issuing tokens directly without third party intervention.
By using a third party TSP from the payment schemes, issuers need to integrate with each payment scheme.
Benefits of having you own TSP:
1. Reduce long term costs: no additional TSP fees from the payment schemes.
2. On-us transactions: save on transaction fees when you are the issuing as well as the acquiring bank.
3. Banks retain their privacy because data and roadmaps do not have to be shared with the schemes.
4. Keep track of customer payment behavior to gain valuable insight and be able to offer personalized services.
5. Expand to multiple use cases. Host Card Emulation Embedded SE Internet: Card-Not-Present Value added services / non-card payments
6. Have your own strategy and be future proof in order to stay competitive.
Bell ID® Token Service Provider enables issuers and processors to perform the role of a Token Service Provider.
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The scheme according to which the electronic communication system should provide a third party certification for the electronic document authenticity, while maintaining the confidentiality of the document circulation.
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Digital certificates are issued by a Certificate Authority to verify identity and ensure secure communication online. They certify that a person or website is reliable and protect exchanged data from tampering. Digital certificates are important for e-commerce because they provide identification, confidentiality, non-repudiation, and public trust during online payments and transactions when customers enter sensitive information. HTTPS uses SSL/TLS encryption to establish secure links between browsers and websites using digital certificates.
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1) EMV transactions involve application selection on the chip card to route transactions to the issuer bank, as well as terminal action analysis and cryptogram generation for online or offline authorization.
2) Offline authentication can involve static data authentication, dynamic data authentication, or combined authentication along with PIN verification on the chip card.
3) Security for e-commerce has evolved with techniques like CVV numbers, address verification, and tokenization to protect stored payment data.
Report on ISO8583,EDCPOS vs mPOS and EMV vs Magnetic Strip Cards
The document discusses ISO 8583, which defines a common format for financial transaction card messages exchanged between acquirers and issuers. It describes the ISO 8583 message structure, including the message type indicator, bitmaps, and data elements. It also compares magnetic stripe cards and EMV chip cards, discussing their technology, transaction flows, security differences, and more. Finally, it analyzes electronic data capture point of sale devices versus mobile point of sale devices in terms of security, price, convenience, connectivity, and other aspects.
Payment Card System Overview
This document provides an overview of card payment systems. It describes the simplified authorization flow when a customer makes a payment by credit or debit card, involving the merchant, acquirer/processor, payment brand, and issuer. It also discusses electronic data capture, the ISO 8583 financial transaction message format, magnetic stripe vs EMV chip cards, verification options, card not present transactions, card management systems, and the simplified settlement flow.
Стандарты ISO по ИБ (ТК 68)
The document lists several ISO standards related to information security, cryptography, biometrics, and key management. Specifically, it outlines standards for personal identification number (PIN) management, secure file transfer, message authentication, public key infrastructure, certificate management, secure cryptographic devices, and key management for financial services and retail applications.
Unified Payment Interface
The document discusses the Unified Payments Interface (UPI) system in India. It provides the following key points:
- UPI is an instant real-time payment system developed by NPCI that allows money transfers between bank accounts using a virtual payment address.
- UPI offers features like being open source, mobile-first, interoperable, instantaneous, secure, cheap, simple, innovative and easily adaptable.
- NPCI's central repository maps customers' Aadhaar numbers, mobile numbers and bank accounts to route payments based on these identifiers.
- The UPI system uses a virtual payment address architecture to facilitate payments between parties using identifiers like bank account numbers, Aad
India - A Cashless Economy (NPCI/UPI)
Why the NPCI UPI launch will spark a fintech revolution in India,. What may change, and what wont.
Why Intuit should care.
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EMV Security / A Key Component to a Multi-layered Security Approach
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EMV Migration Webinar / Lessons Learned + Next Steps
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Exploring Payment Platforms - ISO 20022 and ISO 8583
Exploring Payment Platforms - ISO 20022 and ISO 8583
Report on ISO8583,EDCPOS vs mPOS and EMV vs Magnetic Strip Cards
Report on ISO8583,EDCPOS vs mPOS and EMV vs Magnetic Strip Cards
Similar to v 1.0
Ch17
This document discusses web security and summarizes several related protocols:
1) SSL/TLS provides transport layer security for the web through encryption, authentication, and integrity checks between clients and servers.
2) SET was a secure payment protocol that used digital certificates and dual signatures to protect credit card transactions over the internet.
3) Payment authorization in SET involved the merchant sending payment information to a payment gateway, which then verified certificates and signatures before requesting authorization from the card issuer.
What is Payment Tokenization?
What is Payment Tokenization?
Tokenization enables banks, acquirers and merchants to offer more secure (mobile) payment services.
It is the process of replacing card data with alternate values.
The original personal account number (PAN) is disconnected and replaced with a unique identifier called a payment token.
The ‘mapping’ between the real PAN and the payment tokens is safely stored in the token vault.
With tokenization the original PAN information is removed from environments where data can be vulnerable.
Why tokenization?
Tokenization heavily reduces payment fraud by removing confidential consumer credit card data from the network.
The original data stays in the bank’s control. External systems have no access to this.
Tokens are not based on cryptography and can therefore not be traced back to the original value.
How does tokenization work?
Step 1: A payment token is generated from the PAN for one time use within a specific domain such as a merchant’s website or channel.
Tokens are sent to the token vault and stored in a PCI-compliant environment which does not allow merchants to store credit card numbers.
Step 2: Tokens are loaded on the mobile device.
Step 3: The NFC device makes a payment at a merchant’s NFC point-of-sales (POS) terminal.
Step 4: The POS terminal sends the token to the acquiring bank, which sends it to the issuing bank through the payment network.
Step 5: The issuer de-tokenizes the token to the real PAN and, if in order, approves the payment.
Step 6: After authorization from the card issuer, the token is returned to the merchant’s POS terminal.
Payment tokens perform like the original PAN for returns, sales reports, marketing analysis, recurring payments etc.
20. How can I issue tokens?
In order to use tokenization, a bank or merchant should become a token service provider (TSP).
A TSP manages the entire lifecycle of payment credentials including:
1. Tokenization: replaces the PAN with a payment token.
2. De-Tokenization: converts the token back to the PAN using the token vault.
3. Token vault: establishes and maintains the payment token to PAN mapping.
4. Domain management: improves protection by defining payment tokens for specific use.
5. Clearing and settlement: ad-hoc de-tokenization during clearing and settlement process.
6. Identification and verification: ensures the original PAN is legitimately used by the token requestor.
Thinking of issuing payment tokens to e.g. secure mobile payments or secure your online sales channel? Bell ID can help: www.bellid.com – info@bellid.com
Martin Cox – Global Head of Sales
EMV Overview
EMV is a standard for smart payment cards and terminals. EMV stands for – EuroPay, MasterCard and Visa, the three companies who were the founder of the standard. This standard is maintained by EMVCo – a consortium with payment brands like Visa, MasterCard, JCB, American Express, China UnionPay, Discover as members.
Secure electronic transactions (SET)
Secure Electronic Transaction (SET) is an open encryption and security specification designed to protect credit card transactions on the Internet. It provides confidentiality, integrity, authentication of cardholders and merchants, and uses public key infrastructure. SET involves certificates, dual signatures to link orders and payments, purchase requests from customers to merchants to payment gateways for authorization, and capture of funds transfer. The payment gateway verifies all parties and encrypts/decrypts information before authorization and funds transfer.
SSL TSL;& SET
SSL/TLS provides encryption and authentication for secure internet communications. It originated from efforts by IETF, ANSI, and Netscape in the 1990s. SSL/TLS establishes a secure channel through a handshake to negotiate encryption keys before data transfer. SET builds on SSL/TLS to provide additional privacy, authentication, and integrity specifically for online credit card transactions through the use of digital signatures and certificates. It establishes separate encryption for payment and order information that is only revealed to authorized parties.
Web Security in Network Security NS7
The document summarizes web security considerations and technologies like SSL, TLS, and SET.
SSL and TLS provide encryption and authentication to secure data transmission between a client and server on the web. The handshake protocol allows servers and clients to authenticate each other and negotiate encryption before transmitting application data.
SET is an open encryption specification that protects credit card transactions on the internet. It provides security protocols and formats to ensure confidentiality, integrity of data, cardholder authentication, and merchant authentication for online payments. The sequence of events for transactions using SET is described briefly.
Best Law Firms in India - Khaitan Legal Associates.pptx
Tokenisation involves masking sensitive card data with unique identification numbers while retaining essential information. This protects cardholder data by preventing disclosure to unauthorized entities apart from the cardholder, network, or issuer. Businesses accepting card payments must comply with PCI DSS standards, while card networks must certify systems, applications, and functions of token requestors to ensure authorized access and security when processing tokenized transactions. Regulations also require explicit customer consent for token registration, secure token storage, easy reporting of lost devices, immediate token deactivation in such cases, and dispute resolution processes for tokenized card transactions.
Corporate Law Firms in India - Khaitan Legal Associates.pdf
Tokenisation involves masking sensitive data like card details with unique identification numbers while retaining essential information. This protects cardholder data by preventing disclosure to unauthorized entities. Businesses accepting card payments must comply with PCI DSS standards, and card networks must certify token requestor systems, applications, and functions. Card issuers and other payment entities must also be certified to process tokenised transactions. Customer consent is required for token registration, and tokens and keys must be securely stored. Dispute resolution and monitoring processes are required to handle issues and detect unauthorized activity in tokenization.
Tokenisation 2.0
This document discusses Payment Tokenisation 2.0 by EMVCo. It outlines the key concepts and roles in the payment tokenisation ecosystem, including token requestors, token service providers, and token vaults. It describes the processes for obtaining a token through a token request, issuing a token by performing token assurance, generation, and provisioning. It also covers token transaction processing flows, including token payment requests, domain restriction controls, de-tokenisation to PAN, authorization, and re-tokenisation.
Smart Card to the Cloud for Convenient, Secured NFC Payment
This document discusses Kona Pay, a new payment platform that aims to converge multiple payment factors including form factors, provisioning modes, payment modes, and security measures into a single payment platform and wallet. It highlights challenges faced during development such as adapting to new specifications from payment networks and maintaining effective testing practices across distributed teams. The document provides an overview of Kona Pay's components and transaction flows and the people behind building the platform.
Smart card to the cloud for convenient, secured nfc payment
Kona Pay is a new payment platform that aims to converge multiple payment factors including various form factors, provisioning modes, payment modes, and security measures onto a single payment platform. It allows for payments using plastic cards, mobile wallets, and other methods on both in-store and online/mobile channels. Developing Kona Pay presented challenges in adapting to new specifications from payment brands, meeting tight deadlines, ensuring code quality, and effective collaboration across distributed teams.
Tim sloane preparing for rapid payments innovation
“The entire tokenization infrastructure that’s put in place by the payment networks is also a business model. They’ve tied their model to Apple so that transactions and enablement of mobile payments has to go through Visa, MasterCard, AMEX and the like.” Tim Sloane, Mercator Advisory Group
HCE cloud payments internet services August 2015
HCE Service Limited provides end-to-end mobile payment services including HCE token issuance and payment processing. They help card issuers implement HCE projects through strategic analysis, system design, implementation, testing, and support. Their services follow security requirements for mobile internet payments like authentication, signatures, integrity, and confidentiality. They offer a secure payment model with a mobile app, token issuance, and payments network connecting users, merchants and payment processors through their cloud platform.
Ch 2
Electronic payment systems allow for financial transactions to take place online between buyers and sellers. They involve digital payment methods backed by banks or intermediaries, such as encrypted credit card numbers or digital cash. Examples include online bill payment, ticket booking, and ordering. Storage of electronic payments can be online, with a trusted third party holding funds, or offline through smart cards or e-wallets. Common electronic payment methods discussed in the document include e-cash, smart cards, credit cards, and e-wallets. Security measures like encryption are used to prevent fraud and issues like double spending.
NETWORK SECURITY-SET.pptx
Secure Electronic Transaction (SET) was a protocol standard for securing credit card transactions over the internet. It involved companies like MasterCard, Visa, IBM and provided a secure communication channel and digital certificates to ensure privacy and trust. The SET process involved customers getting certificates and placing orders with merchants who also had certificates. The merchant would then request payment authorization from the bank. Dual signatures were used to link messages between customers, merchants and banks for security. Payment gateways verified certificates and digital signatures and requested authorizations from card issuers.
Open web payments
The document proposes an open standard called Open Web Payments (OWP) to create consistency across online payment platforms. OWP would define common APIs, data models, and extensions to allow interoperability. It describes representing transactions as entries in the Atom format, with extensions to include payment details. It provides examples of how a grocery application might use OWP for an online purchase.
Week3 lecture
This document provides an overview of a lecture on access control. It covers several topics:
- Access control authentication methods like passwords, tokens, and biometrics. As well as single sign-on and Kerberos.
- Access control models including DAC, MAC, and RMAC.
- Types of access control including technical, physical, and administrative controls.
- Authentication concepts like verifying identity, authorization, and limiting actions. Password risks and controls are also discussed.
Blockchains.My - Decentralised Mobile Wallet App
The document discusses problems with existing payment and money transfer systems including high fees, lack of accessibility in some countries, and security issues. It then introduces a proposed decentralized digital wallet solution that would allow users to make both domestic and international payments and transfers in multiple currencies through a single mobile app. Key features of the proposed wallet include payment functionality, P2P transfers, currency exchange, physical debit cards, integration with marketplaces, and security measures like encryption and authentication.
Access management
This presentation talks about various access management topics in IAM domain like authentication, authorization, MFA, Password less authentication, certificate based authentication SSO protocols like SAML, OIDC.
Web Security
SSL and TLS provide secure communication over the internet using encryption. SSL uses public key encryption to establish a secure connection and exchange keys to encrypt data sent between a client and server. It defines sessions which allow parameters like encryption algorithms to be shared for multiple connections. TLS is an updated version of SSL that uses similar record and handshake protocols. SET is an open standard that uses digital certificates and dual signatures to securely conduct credit card transactions over the internet between cardholders, merchants, issuers and payment gateways.
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Corporate Law Firms in India - Khaitan Legal Associates.pdf
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Smart Card to the Cloud for Convenient, Secured NFC Payment
Smart Card to the Cloud for Convenient, Secured NFC Payment
Smart card to the cloud for convenient, secured nfc payment
Smart card to the cloud for convenient, secured nfc payment
Tim sloane preparing for rapid payments innovation
Tim sloane preparing for rapid payments innovation
v 1.0
- 1. Tokanization Vinod Amarathunga Financial Solution Support Group DMS Electronics (Pvt) Ltd
- 2. What is Tokenization ?
- 3. What is Tokenization ? The Actual Meaning Actual Data Algorithm Token
- 4. What is Tokenization ? How it works ? Mobile Payment System Provider Card Details Request Response Acquire Token Request Token
- 5. Tokenization in Nutshell What is Tokenization ? Protects cardholder by replacing the PAN with a ‘surrogate’ account number, a Token PAN Transactions still pass through terminals, acquirers and networks Token PAN domain controls restrict use EMV Co published global framework in Mar 2014
- 6. Tokenization in Nutshell Tokenization scope Token generation Token provisioning (with payment data) to phone Storing Token/PAN map De-tokenisation for authorizations and clearing Wider use of Tokenization Mobile, Card on File, in-App purchases
- 7. Token Service Provider Requirements Token Vault Requirements Payment Token to PAN mapping Provide underlying security Related processing controls, such as domain restrictions during transaction processing Domain Restrictions The token is requested by and specific to individual merchants
- 8. Token Service Provider Requirements Token Service Provider generates Payment Tokens in response to Payment Token Requests No possibility of generating Payment Tokens that conflict with a PAN Identify and store the Payment Token to PAN mapping The Token Vault SHALL also associate each generated Payment Token
- 9. Token Service Provider Requirements Security and Controls Due to the sensitive nature of the data mappings that are stored and managed in them, Token Vaults SHALL be protected by strong physical and logical security measures per industry standards
- 10. Token Requestor Registration The Token Service Provider SHALL establish a process to register the entities that request designation as a Token Requestor. Entities that choose to be recognized as a Token Requestor for multiple Token Service Providers may register separately with each Token Service Provider, according to the proprietary processes established by each Token Service Provider Token Service ProviderToken Requestor Token Requestor Information Token Requestor ID
- 11. Token Service Provider APIs Token Service Authenticated Methods Web services (REST) ISO 8583 message exchange through an existing Payment Network interface File / batch
- 12. Token Service Provider APIs Input & Output Data Elements Tokenization Token Requestor Token Service ProviderCard Data PAN /PAN Expiry Date PAN /PAN Expiry Date Token Requestor ID Status of the request Payment Token Payment Token Expiry Date
- 13. Token Service Provider APIs Input & Output Data Elements De-Tokenization De-Token Requestor Token Service ProviderToken Transaction Request Token Requestor ID Token Length Payment Token Token Expiry Date Status of the Transaction
- 14. Use Cases Mobile / Digital Wallet E-Commerce Mobile NFC at Point of Sale Flow Card-On-File E-Commerce Scan at Point of Sale
- 15. References 1. EMV® Payment Tokenization Specification 2. YouTube: Tokenization in 60s 3. YouTube: How does tokenization work ? 4. YouTube: Apple Pay: How Does It Work?! - Tech Tuesday 5. YouTube: What Is Tokenization? 6. Thales Proxama HCE CBP Webinar v4 19 May 2016