Why National Australia Bank Chose Scheme-Based Tokenization over Alternate PANs for HCE Launch

NFC Times Exclusive Insight – Three of the big four banks in Australia have now launched HCE mobile payments commercially, but only one of them, National Australia Bank, is using tokenization from a payments scheme, Visa.

While the Australian market doesn’t lend itself to scheme-based tokenization, a representative of the bank told NFC Times that National Australia Bank, or NAB, believes that in its case, the benefits outweigh the costs. 

NAB, which launched the HCE-based NAB Pay feature in its mobile-banking app in late January, uses the Visa Token Service to tokenize Visa debit cards that customers can load into the app. 

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