Single platform allows banks to integrate with multiple payment schemes quickly and easily, while enabling schemes to on-board banks rapidly
In response to the increasing complexity and fragmentation of the near field communication (NFC) mobile payments ecosystem, Rambus Bell ID – part of the Rambus Security Division – has launched Token Gateway. Issuing banks can now manage tokenization activity for the ‘OEM Pay’ mobile wallets through a single software platform. This significantly simplifies and consolidates integration with the multiple token service providers (TSPs) operated by third-parties, like international and domestic payment schemes.
Managing tokenization is complex and time consuming
“Managing the expanding tokenization infrastructure is a significant challenge for issuers,” comments Dr. Martin Scott, senior vice president and general manager of the Rambus Security Division. “As mobile payments roll out worldwide, banks are looking to give customers access to this technology by supporting a range of mobile wallet platforms. To do this, issuers need to connect to a number of the payment schemes’ own tokenization services, each with individual requirements, specifications and interfaces. As well, specifications are updated regularly so banks are required to constantly maintain their systems to stay connected to the schemes; this takes time, investment and knowledge. With this solution, we have simplified the process.”
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Simplifying tokenization management
With the Rambus Bell ID Token Gateway, banks can bypass integration challenges utilizing one platform. The solution eases connectivity to the schemes’ tokenization services so issuers can centrally support and manage the ‘OEM Pay’ wallets for all their account holders. Rambus Bell ID ensures that Token Gateway is aligned with the latest requirements from the credit and debit schemes, ensuring banks are always up-to-date. Existing token service providers can also use the platform to offer gateway services to their bank clients, enabling a bank to interface with other token service providers.
“Short-term, banks’ integration projects and the schemes’ on-boarding processes just got quicker and simpler. Long-term, banks will not need to coordinate the update process, making the lifecycle management of the OEM Pays easier and cheaper,” explains Dr. Scott.
A modular approach to tokenization
To accommodate the needs of individual banks, the software solution is modular so it can be tailored to specific needs. In addition to a lifecycle management module, which is fundamental to the platform, banks can add a card asset module that allows the personalization and branding of digital cards. Additionally, a token vault mirror can be added to maintain a log of tokenized data in-house, allowing banks to check a transaction without having to contact the relevant scheme TSP.
A complete mobile payments solution
The Rambus Bell ID Token Gateway solution is currently available and is part of the broad suite of solutions for issuing banks, processors and payment schemes to support mobile NFC payments. Fully compliant with the latest mobile payment security standards, Rambus Bell ID supports cloud-based solutions using host card emulation (HCE), EMVCo tokenization, and trusted services management (TSM) for SIM-based projects and for ‘OEM Pay’ solutions that use an embedded secure element.