19 October 2016
Single platform allows banks to integrate with multiple payment schemes quickly and easily, while enabling schemes to on-board banks rapidly
ROTTERDAM, THE NETHERLANDS – In response to the increasing complexity and fragmentation of the near field communication (NFC) mobile payments ecosystem, Rambus Bell ID – part of the Rambus Security Division – has launched Token Gateway. Issuing banks can now manage tokenization activity for the ‘OEM Pay’ mobile wallets through a single software platform. This significantly simplifies and consolidates integration with the multiple token service providers (TSPs) operated by third-parties, like international and domestic payment schemes.
Managing tokenization is complex and time consuming
“Managing the expanding tokenization infrastructure is a significant challenge for issuers,” comments Dr. Martin Scott, senior vice president and general manager of the Rambus Security Division. “As mobile payments roll out worldwide, banks are looking to give customers access to this technology by supporting a range of mobile wallet platforms. To do this, issuers need to connect to a number of the payment schemes’ own tokenization services, each with individual requirements, specifications and interfaces. As well, specifications are updated regularly so banks are required to constantly maintain their systems to stay connected to the schemes; this takes time, investment and knowledge. With this solution, we have simplified the process.”