Based on proprietary and patent-pending ‘programmable tokenization’ technology, the Token digital payment platform leverages each bank’s policies and procedures and integrates with their core system APIs to provide an instant springboard into the execution of cryptographically secure, PSD2-compliant digital transactions.
Token’s platform enables banks to control the entire transaction process, issuing and redeeming payment authorizations in the form of pre-programmed ‘smart tokens’. These can encapsulate any number of arbitrarily complex terms and conditions in accordance with the instructions of the account holder, including their exclusive assignment to individual transaction amounts, between specific parties, at precisely specified times.
Steve Kirsch, CEO Token, said that PSD2 is the main focus at this moment, but the company can enable retail and banks to boost a wide variety of use cases, including ecommerce checkouts, bill payment, P2P transactions, B2B payments, account information aggregation, cash sweeping and more.
Token is a company which utilizes patent-pending smart tokenization technology to provide a digital transaction management environment for banks and financial service providers.
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