MasterCard launches MDES token platform for mobile payments

Thursday 11 September 2014 10:22 CET | News

MasterCard has unveiled US availability of a token platform that enables card issuers to store tokenized versions of their customers’ card details on Apple’s new NFC devices.

Card issuers are also set to be able to store tokenized versions of their customers’ card details on NFC phones and tablets from a range of other manufacturers.

Visa has also launched a token platform for Apple’s new NFC mobile payments service. Dubbed Visa Token Service, the platform enables card account numbers to be replaced with digital tokens that ensure the cardholder’s actual card number is never shared with merchants.

MasterCard Digital Enablement Service (MDES) is expected to transform any connected device into a commerce device to make and receive payments.

MDES supports contactless payments and Digital Secure Remote Payments (DSRP). The latter is a transaction method where a consumer is able to make in-app purchases using a token. While contactless payments leverage NFC technology for point-of-sale (POS) transactions, DSRP delivers EMV-like transactions for in-app payments.

Tokens are card numbers that mobile devices use in place of the card number printed on the plastic. MDES validates the transaction, maps from the token back to the PAN and forwards it to the issuer for authorization.

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Keywords: MasterCard, MDES, Token, platform, mobile, payments , NFC, tokenized, Visa Token Service, Visa, contactless, payments , DSRP, EMV, POS
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce