The Digital Payment ecosystem is developing at the speed of light, with all new services to manage Payments for online purchases...
... With a growing number of Digital Wallets for Mobile Payments at the store and in-app and now eMerchants adopting EMV tokenization to offer innovative Digital Payment services to their customers.
EMV Tokenization, adopted by leading Digital Wallets today, is increasingly used for online payment at eMerchants: the real card data stored by the merchant is replaced by an EMV token, protecting the cardholder from skimming frauds and opening an all-new service ecosystem whereby users can control their payment card usages for online purchases.
Use cases for tokenization are set for exponential growth with eCommerce, leading to the fast growth of EMV Tokens issued for both Digital Wallets and eCommerce card-on-file replacement.
A scalable ecosystem for a multi-channel and multi-scheme strategy
EMV tokenization is the crucial technology enabling Banks to deploy their digital payment services ecosystem. Major payment schemes have put in place an EMV tokenization platform.
Beyond increasing the security and ensuring the independence between the different wallets, there is a need for a hub that allows Issuers and processors to access to all significant wallets providers and an increasing number of eMerchants.
Banks and other issuers are increasingly deploying their Digital Payment services on multiple and various connected devices, payment schemes and eMerchants.
This is where Thales Trusted Services Hub (TSH) comes into play by connecting a broad range of services providers to a broad range of devices and schemes.
The TSH is a cloud solution that combines and manages the card digitalization process, from end-user verification, provisioning and Tokenization, till the management of the life cycle of the tokens all while targeting a wide range of wallets providers, eMerchants and devices.
A Completely new User Experience empowering your customers for eCommerce
All eMerchants managed from one place in the Bank mobile app and web site
Thanks to the EMV tokenization, the customer can centralize the management of all his/her EMV tokens (one per eMerchant) right from the bank's mobile application and web site:
- The customer gets full control on each deployed EMV token for all his/her eMerchants' sites, wearable devices and smartphones wallets.
- The customer can add a new eMerchant without the hassle of fill-in the card credentials manually and the risk of the card being skimmed.
Avoid Cards False-Positive declines.
Cards False-Positive decline has hit 24% of Generation Y customers at least once in the last 12 months, leading to customer un-satisfaction and loss of sales.
In the US alone, false declines mean that e-commerce merchants are losing a total of $8.6 billion according to Payments Journal of June 2019.
We know the feeling of frustration for both parties.
Transactions get rejected for no good reasons, only due to risk management software evaluating a given card as risky. Cards replaced by EMV tokens for such transaction will solve that issue.
No more card expiration date requiring to re-enter the card data online to maintain subscription accounts
When a card expires, the related EMV tokens are linked automatically to the new card. The consumer does not face the hassle of:
- Unexpected service stop: for services for which he used his card to subscribe.
- Cart abandonment at his preferred eMerchants.
Cloud-based service to bring the perfect answers
A perfect answer to your business, functional and operational needs
Innovation is accelerating at an incredible pace in Digital Payments. Banks and Processors need partners who can help them get the most of those new technologies while meeting their below needs:
- Pay only what you use
- Scale-up with incremental fees
- Save on costs linked to specs updates and certification
- Best possible time-to-market to launch new services
- One single API to access to all leading tokenization platforms
- Simple to use developer Portal
- Always up-to-date specs and certifications
- Quality of service and support
- End-User centric
- Digitize payments cards
- Manage the digital cards life-cycle (Token)
- Activate, de-activate, suspend
- Issue Digital-first cards
You can enjoy the above benefits by selecting one or more Thales offer for Issuers and Processors:
Your Digital Cards (EMV Tokens) will reach major digital wallets and eMerchants
Launch your payment wallet or enable the payment feature in your mobile application
Offer your customers full control of their digital cards in the different wallets & eMerchants right from their Bank Mobile app and web site.
A Development Portal to cut your integration efforts by a factor two:
The Development Portal has been developed by a developer and for your developer. Entirely online, It has been designed to launch your project easily, in 4 steps, to cut your integration efforts by 2.
A cloud-ready solution already certified and connected to VTS/MDES.