Bank Islam Brunei Darussalam goes with Rambus for digital payments

Thursday 6 December 2018 00:20 CET | News

Bank Islam Brunei Darussalam (BIBD) has selected Rambus, a digital security and semiconductor company, to secure its mobile payment strategy.

The bank’s is implementing Rambus’ Token Service Provider (TSP) functionalities, as it needed a solution to tackle the proliferation of digital payment in Asia, where Rambus had been trying to expand.

The bank says that the rise of solutions such as QR-based payments, near-field communication (NFC), host card emulation (HCE) and real-time payments have required banks to improve technology around security and fraud prevention.

The Rambus TSP solution helps secure the BIBD NexGen Mobile banking app, allowing customers to digitise their cards and send payments.

By generating temporary personal account numbers (PANs), or payment tokens, the Rambus solution combines tokenisation with HCE to enable payment issuers and processors to perform a variety of roles in the payment process.

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Keywords: Bank Islam Brunei Darussalam, Rambus, digital payments, mobile payment
Countries: World