Cardsmobile Universal platform of tokenization

2019: Submission of the platform of tokenization

On February 27, 2019 the companies MasterCard also CardsMobile submitted the universal platform of tokenization working based on MasterCard Digital Enablement Service (MDES). The product provides to emitting banks of any country of the world service for transfer existing and to release of new cards of MasterCard both in smartphones the clients, and in wearable "smart" devices, supporting technology contactless payment — charms, a jewelry with microchips, car keys, hours and other gadgets, TAdviser representatives of MasterCard reported.

Tokenization represents replacement of the main account number of the card (PAN) by a 16-unit combination of digits (token). It is tied in MasterCard network to number of the bank card. At the same time the token is unique for each of attached devices. At commission of payment of MasterCard transforms a token to the card number that the bank was sure that the payment is made by her holder. At payment the token goes to the seller. When the outlet sends to bank data for payment authorization, Mastercard checks whether the token is valid, and whether it came from the device to which it is tied. In general the token allows to hide actual data of the bank card and to provide optimum level of safety of transaction.^[1]

According to developers of the presented solution, it already underwent certification of MasterCard as an open purse and the aggregation platform. As of February, 2019 agreements on connection to service of a number of the Russian banks are reached.

Around the world we work on that as it were possible modern payment technologies and solutions are more widely available. In Russia we actively cooperate with the leading technology companies that holders of cards of MasterCard had an opportunity to pay there then by that method which is convenient to them. Cardsmobile is our strategic partner in this area, and we are glad to announce start of the universal platform for tokenization of cards which has all opportunities for global scaling. Dmitry Tartyshev, the director of business development of MasterCard in Russia

Besides, several producers of wearable devices were connected to the Cardsmobile platform: ISBC companies with a product line of AIRTAG Pay, Rosan Diamond with exclusive jewelry and PayRing with electronic rings. At the same time the last provided own patented development already started on the Cardsmobile platform — jewelry rings from precious metals with payment functionality:

PayRing sets standards of payment devices of the next generation. We some of first-ever realized the idea of payment by the card in such convenient form factor as a jewelry ring. Our mission — to provide to emitting banks of payment cards and their clients the safe tool for payment of purchases and services. Together with Mastercard and Cardsmobile we offer the individual product protected by the advanced standards of safety of payments and having esthetic advantages. Sergey Lazarev, SEO of PayRing

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