UL supports cloud-based payments with tokenization technology

Thursday 4 December 2014 09:24 CET | News

UL has launched a test tool that supports the implementation of tokenization technology to assist cloud-based payment solutions.

As with cardholder account data, exchanging messages to generate transactions with tokens requires correct communication between the issuers, the acquirers and the payment schemes. Service providers need to ensure that the host environment works correctly and that tokens get issued correctly in order to be accepted.

To ensure this works, UL developed an environment in which the exchange of tokens can be simulated. On the one hand, token issuance can be simulated, on the other hand, transactions can be generated with tokens.

UL is a global independent safety science company. Its professionals are guided by the UL mission to promote safe working and living environments for all people. They partner with businesses, manufacturers, trade associations and international regulatory authorities to bring solutions to a global supply chain.

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Keywords: UL, cloud-based payments, tokenization technology, online security, online transactions
Categories: Fraud & Financial Crime
Countries: World
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Fraud & Financial Crime

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