PYMNTS-MonitorEdge-May-2024

tokenization

Tokenization, when applied to data security, is the process of substituting a sensitive data element with a non-sensitive equivalent, referred to as a token, that has no extrinsic or exploitable meaning or value. The token is a reference that maps back to the sensitive data through a tokenization system.

US Financial Giants Including Visa and JPMorgan Test Shared Ledger Tech
US Financial Giants Including Visa and JPMorgan Test Shared Ledger Tech
May 08, 2024  |  Banking

The U.S. financial system is exploring the use of shared ledger technology for multi-asset transactions. The project will involve a number of high-profile financial institutions...

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Payment Networks Spotlight Rise of Tokenization and Contactless Payments
Payment Networks Spotlight Rise of Tokenization and Contactless Payments
May 02, 2024  |  Payments Innovation

Four years ago, the pandemic began to give wings to contactless payments. Now, as shown by earnings results from the likes of Mastercard and Visa, the payment methodology has...

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Making Sense of Why FIs Are Tokenizing Real-World Assets 
Making Sense of Why FIs Are Tokenizing Real-World Assets 
April 19, 2024  |  Blockchain

The tokenization of real-world assets (RWA) is emerging as more than just a token exercise. It’s another function of the blockchain landscape that has captured...

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Currency Matching Key to Effectively Competing in International B2B Markets 
Currency Matching Key to Effectively Competing in International B2B Markets 
April 04, 2024  |  Cross-border Payments

A business-to-business (B2B) payment is never just a payment. The global B2B marketplace, with an annual payments volume over $100 trillion, is supported by a...

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Visa and Skipify Link ‘Click to Pay’ and Digital Wallet
Visa and Skipify Link ‘Click to Pay’ and Digital Wallet
April 04, 2024  |  Partnerships

Visa and Skipify partnered to streamline consumers’ checkout experience with Skipify’s next-generation digital wallet. The collaboration will enable Skipify customers in a growing number of global markets to...

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Central Banks and BIS Test Tokenization to Speed Cross-Border Payments   
Central Banks and BIS Test Tokenization to Speed Cross-Border Payments   
April 03, 2024  |  Cross-border Payments

Tokenization is gaining momentum on the global stage, and with commercial applications. The Bank for International Settlements announced Wednesday (April 3) that it is working in tandem...

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Visa: Tokens Bring $2 Billion ‘Uplift’ to Asia-Pacific Economy
Visa: Tokens Bring $2 Billion ‘Uplift’ to Asia-Pacific Economy
March 26, 2024  |  VISA

Visa said its token service has been a boon for the Asia-Pacific region’s digital economy. The region saw an “uplift” of more than $2 billion last...

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FDIC Vice Chair: Tokenization ‘Beginning’ to Deliver Benefits  
FDIC Vice Chair: Tokenization ‘Beginning’ to Deliver Benefits  
March 13, 2024  |  Blockchain

Blockchain is full of promise, cryptocurrency perhaps less so, and tokenization is already shifting what it means to “own” an asset. In a speech delivered...

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Zeebu Marks $1 Billion in Web3 Settlement Transaction Volume
Zeebu Marks $1 Billion in Web3 Settlement Transaction Volume
March 11, 2024  |  Blockchain

Web3 payments platform Zeebu said it exceeded $1 billion in first quarter transaction volume. “In just seven months following the debut of its on-chain settlement platform, Zeebu...

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