EMV Payment Tokenisation Specification published

The new specification will help provide the payments community with security implementation services and globally interoperable environment to make digital payments when using a mobile handset, tablet, personal computer or other smart device.

Technically speaking, the document provides an insight into the role the specification will have in enabling broad-based acceptance of a payment token as a replacement for a traditional card account number. This includes data message formats to ensure the interoperability of tokens and the consistent approach that is used to route and authenticate a payment token. The framework also explains how security can be improved by limiting payment tokens for use in a specific environment, and how an existing ecosystem can advance to become globally interoperable.

EMVCo has released this document to encourage industry adoption of the specification and aid its evolution. The specification is backwards compatible with the current payment infrastructure and will be complementary to the existing EMV Chip Specifications to ensure consistency across all payment environments.