Topic “Token service providers”

Mastercard Quietly Certifies First Data and PayPal to Tokenize Mastercard-Branded Cards

NFC TIMES Exclusive – Mastercard has opened up tokenization of Mastercard-branded card accounts to two other major payments industry players, First Data and PayPal, enabling them to tokenize Mastercard-branded cards for mobile and other digital payments services as an alternative to Mastercard’s own token service, MDES, NFC Times has learned.

Exclusive: Group of Major U.S. Banks Presses Visa to Open up Tokenization

NFC TIMES Exclusive – Some of the largest banks in the U.S. have been pressing Visa to allow them to tokenize their Visa-branded cards for mobile payments through a token service provider set up by their trade group, The Clearing House, which is owned by such major U.S. issuers as JPMorgan Chase, Wells Fargo, Capital One and Bank of America, NFC Times has learned.

Taiwan’s Domestic Debit Network to Launch Token Service Provider

Mar 29 2017

NFC TIMES Exclusive – TAIPEI, Taiwan: A number of Taiwanese banks plan to enable customers to load their debit card credentials into an HCE-enabled mobile wallet app starting this month, following the launch last year by the banks of HCE-enabled credit card payments, NFC Times has learned.

Exclusive: What Tokenization Fees from Visa Might Look Like for Issuers

NFC TIMES Exclusive – While Visa has said it is waiving tokenization fees for issuers that join its commercial tokenization hub, VDEP, and use its Visa Token Service, some observers believe the network will charge the fees sooner or later.

Visa Blocks Singaporean Bank UOB from Using Own TSP to Tokenize Visa Cards for Apple Pay

Nov 1 2016

NFC Times Exclusive – When United Overseas Bank in Singapore launched its mobile wallet app with host card emulation, UOB Mighty, in November of 2015, it was the first bank outside of the U.S. to use the Visa Token Service, Visa’s on-behalf-of tokenization service.

Visa, Mastercard Set Deadlines for Ending Support for Alternate PANs

NFC Times Exclusive – Both Visa and Mastercard have set deadlines for ending support for alternate PANs that a number of banks are issuing for their mobile payments apps, as the schemes continue to push their own tokenization services to issuers, NFC Times has learned.

Visa Policy on Alternate PANs Leaves Cardholders Out in the Cold in Taiwan

NFC Times Exclusive – Fourteen banks in Taiwan launched mobile payments using host card emulation late last week or plan to do so in coming weeks, but none of the cards that the banks’ customers can load into their new Android wallet apps will sport the Visa logo–one of the two main bank card brands in Taiwan. 

Taiwan Banks to Launch Mobile Payments with HCE, but Only with Mastercard-Branded Cards, Using Local Tokenization

Aug 4 2016

NFC Times Exclusive Insight –  TAIPEI, Taiwan: More than a dozen Taiwanese banks and their mobile payments joint venture along with Mastercard plan to announce Thursday the launch of mobile payments using host card emulation, with more banks to follow.

French Domestic Network to Provide Tokenization for ‘Pays’ Service; Seeks to Take on Visa and MasterCard

Jul 19 2016

NFC Times Exclusive – French banks and their bank-owned domestic payments network STET plan to launch mobile payments in the first quarter of next year with a “large smartphone vendor” using the domestic payment network’s own token service provider, STET told NFC Times.

Networks Continue to Dominate Tokenization as Vendors Wait for Token Service Provider Specs

May 10 2016

NFC Times Exclusive – More than two years after EMVCo released its tokenization guidelines, there are still few token service providers operating besides those of the major payments networks, and there are no specifications yet from top networks Visa and MasterCard to help vendors to tokenize cards supporting their brands.

HEADLINE NEWS

Analysis: Apple Again Touts Apple Pay Growth, While Still Not Releasing Details on Transactions

NFC TIMES Exclusive Insight – Apple again reported a tripling of transactions for its payments service, Apple Pay, during its fiscal quarter ending in September, while noting other achievements. But the growth is believed to be off of a relatively low base, and four years after launching the payments service, Apple is still not releasing detailed numbers about its transactions.

In-Depth: Chinese Payments Players Accelerate Rollouts of Transit Fare Payments

NFC TIMES Exclusive Insight – While mobile payments are rolling out slowly at metro gates and aboard buses in the West, Chinese mobile payments players are accelerating deployments of their services that enable consumers to tap–or more likely scan–to ride.

Major U.S. Networks Promote Online Commerce Spec, Seeking to Keep Digital Transactions on Their Networks, but Not All Merchants are On Board

NFC TIMES Exclusive Insight – Major U.S.-based global networks, including Visa, Mastercard and American Express–hoping to keep transactions on their networks as more commerce goes online and digital–amplified their push for the Secure Remote Commerce specification, which is being drafted by their jointly owned payments specifications group, EMVCo.

Major UK Bus Operators Complete Contactless Rollouts, With More to Come

NFC TIMES Exclusive – At least 13,000 buses in the UK outside of London now accept open-loop contactless payments, and more rollouts are underway as part of a plan by UK bus operators to roll out contactless on all 32,000 buses operating in the UK outside of the capital, NFC Times has learned.

Transport for London Proposes Extending Licensing Deal with Cubic for Open Payments Technology

NFC TIMES Exclusive Insight – London transit authority Transport for London is proposing to extend an agreement with U.S.-based fare collection system vendor Cubic Transportation Systems to license the authority’s technology used in its pioneering contactless open-loop payments system.

Fitbit Pay Launches in 21st Market, Though Issuer Numbers in Most Markets Remain Small

NFC TIMES Exclusive Insight – Fitbit Pay has entered its 21st market, with the launch this week in Thailand with two of the country’s top four banks, Kasikorn Bank and Siam Commercial Bank, along with credit card issuer Krungthai Card, or KTC, supporting the digital payments service.

Denmark’s Largest Bank Pilots Own Payments Wearables, Choosing Low-Tech Option Over Apple Watch

Oct 13 2018

NFC TIMES Exclusive Insight – Danske Bank, Denmark’s largest financial institution, is pitting its planned low-tech FastPay payments wearables against Apple Watch and some other higher-end wearables using tokenization, as it launches a large pilot starting this month in Denmark, Sweden and Norway.

Study: Apple Pay Dominates Mobile Payments Among Debit Card Users in U.S., Though Volume Remains Low

NFC Times Exclusive Insight ­– New research shows that Apple Pay continues to dominate mobile payments services for bank cards in the U.S., although transaction volume is still low.

NFC Student ID Cards Launch in Apple’s Wallet, Though Progress Remains Slow for Apple to Add Nonbank NFC Applications

Oct 12 2018

NFC TIMES Exclusive Insight –Three U.S. universities Tuesday launched NFC-enabled ID cards in Apple’s Wallet, with Apple confirming that only three more U.S.

LA Metro Plans NFC-Enabled Mobile App for TAP Card But Holds Off on Open Payments

NFC TIMES Exclusive Insight – The Los Angeles County Metropolitan Transportation Authority, or Metro, plans to introduce mobile payments using NFC phonesbut only supporting its closed-loop TAP fare payments service, not open-loop payments, NFC Times has learned.

Chinese Wearables Makers Begin to Introduce Low-Cost Devices Supporting NFC Payments

NFC TIMES Exclusive Insight – A new smartwatch from low-cost Chinese wearables maker Huami and the latest fitness band version from Huami’s major investor and partner, Xiaomi, both support transit and retail payments–making them among the first budget smart wearables devices supporting NFC payments.

In-Depth: San Francisco’s $461 Million Transit Contract Will Support NFC Ticketing but Not Open-Loop Contactless Payments

NFC TIMES Exclusive Insight – A planned US$461 million contract to upgrade and operate the Clipper fare collection system in the San Francisco Bay Area will include account-based ticketing and a mobile app that will enable customers to tap for rides with a closed-loop virtual Clipper card on NFC-enabled smartphones.