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.

Visa’s Provisioning Intelligence Service Wages War Against $450 Million in Token Fraud 
Visa’s Provisioning Intelligence Service Wages War Against $450 Million in Token Fraud 
December 13, 2023  |  Security & Fraud

The value of tokenization — where sensitive information is replaced by unique algorithmically generated numbers and letters — has gained wide acknowledgement in commerce. James...

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Visa: Network Tokenization Shifts eCommerce Away From the Account Number
Visa: Network Tokenization Shifts eCommerce Away From the Account Number
December 11, 2023  |  Digital Payments

Physical commerce, via face-to-face, card-present payments, is largely a smooth experience, Swee-May Ngeow, vice president of North America client strategy and solutions at Visa, told...

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IMF, World Bank and BIS Collaborating on Uses of Tokenization
IMF, World Bank and BIS Collaborating on Uses of Tokenization
November 28, 2023  |  Payments Innovation

The International Monetary Fund (IMF), the World Bank and the Bank for International Settlements (BIS) have reportedly joined forces to explore the concept of tokenization. This collaboration aims to leverage tokenization...

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Sheeva.AI and Visa Team to Tokenize In-Car Payments
Sheeva.AI and Visa Team to Tokenize In-Car Payments
November 21, 2023  |  Payment Methods

Sheeva.AI and Visa Acceptance Solutions have teamed to launch a tokenization platform for in-vehicle commerce. The collaboration, announced Tuesday (Nov. 21) will see Sheeva.AI — an in-vehicle payments...

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Visa Completes Pilot Test of CBDC in Hong Kong
Visa Completes Pilot Test of CBDC in Hong Kong
November 02, 2023  |  CBDC

Visa, in collaboration with HSBC and Hang Seng Bank, has successfully completed a pilot test in Hong Kong to study tokenized deposits using central bank digital currencies (CBDCs)....

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HSBC Launches Platform Using Blockchain Tech to Expedite Gold Trading
HSBC Launches Platform Using Blockchain Tech to Expedite Gold Trading
November 01, 2023  |  Blockchain

HSBC Holdings, one of the world’s leading bullion banks, aims to revolutionize the London gold market by harnessing the power of blockchain technology. The bank...

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JPMorgan: JPM Coin Handles $1 Billion in Daily Transactions
JPMorgan: JPM Coin Handles $1 Billion in Daily Transactions
October 26, 2023  |  Blockchain

J.P. Morgan said its digital token now handles $1 billion in daily transactions. “JPM Coin gets transacted on a daily basis mostly in U.S. dollars,...

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Payments Innovation Is About Keeping Top of Wallet to Top of Mind
Payments Innovation Is About Keeping Top of Wallet to Top of Mind
October 24, 2023  |  Payments Innovation

The borders delineating digital technologies and payments are becoming increasingly blurred. And that’s a good thing. “We see payments moving up the funnel,” Rachel Moore,...

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Discover Global Network Launches Cloud-Based Network Tokenization Platform
Discover Global Network Launches Cloud-Based Network Tokenization Platform
October 12, 2023  |  Payments Innovation

Discover Global Network, the payments brand of Discover, has launched its new cloud-based network tokenization platform. This platform aims to offer companies a scalable and flexible token...

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