Carta's tokenization service is being used by industry-leading clients in markets across the globe
Toronto Canada (PRWEB) November 04, 2014
The solution simplifies deployment and management of mobile payment products while delivering enhanced security and fraud protection.
Developed in line with the EMVCo Tokenization framework, and payment network standards, Carta’s advanced system, which has been deployed globally for NFC mobile payments will support all transaction types including proximity and remote payments.
Tokenization is a security method that generates an alternate account number or “token” to represent a cardholder’s real 16-digit personal account number (PAN), in order to facilitate a digital transaction without sharing the true card details. A specific token can be restricted by device, channel, merchant, geography, amount, etc. By shielding cardholder account data and restricting usage, tokenization greatly reduces the risk of fraud associated with online and mobile payments.
In addition, tokenization can greatly simplify deployment of mobile payment products by reducing integration and development required to provision existing card portfolios into the digital environment.
Carta’s Tokenization Service is part of Carta’s complete digital enablement platform including Digital Credentials Management and Provisioning service, a Token Transaction Processing service and a Mobile Payment Application SDK. It may be operated as a managed service on behalf of an issuer, or managed in-house for deployment on-premises. The technology supports cloud-based payments models using HCE, and hardware Secure Element-based deployment models (using SIM-based and embedded Secure Elements).
“Carta is unique; as the world’s only next-generation digital transaction processing technology for Issuing Banks our platform was architected specifically for the digital ecosystem,” said Brian Semkiw, CEO of Carta.
“Our tokenization service is being used by industry-leading clients in markets across the globe. We are excited for the innovation that is driving mobile commerce to become a real mass-market force,” he explained.
Neil Livingston, Carta’s Director of Mobile Products added: “Our goal is to bring simplicity to the complex payments ecosystem, and tokenization does just that—removing barriers to wide-scale adoption of mobile commerce. Tokenization provides added security and a much better user experience over the life of the payments service. Making mobile payments secure is what Carta does best, and security is key for NFC mobile payments to be adopted en masse.”
To find out more about Carta Worldwide and their digital transaction platform (which includes Tokenization, Credential Management, Host Card Emulation, NFC and Remote Payments), visit cartaworldwide.com