Bell ID Launches Tokenization Manager
New solution will assist card issuers and merchants to reduce fraud resulting from stolen card account data
Payment credential management specialist, Bell ID, has launched its Tokenization Manager software. The solution will be used by card issuers and merchants to enhance security and limit fraud by facilitating tokenized payments.
EMV payment tokenization is the process of replacing a personal account number (PAN) with a unique identifier, known as a ‘payment token’. The payment token can only be used in a specific domain such as a merchant’s online website, or channel for example a mobile device to make a near-field-communication (NFC) payment.
Pat Curran, Executive Chairman at Bell ID, explains: “As an example, tokenization replaces the need for merchants or digital wallet operators to store customers’ card data. As the payment tokens are created for a designated purpose, they are very unappealing to fraudsters as the data stolen cannot be used more widely. Tokenization will therefore prevent large scale attacks on merchants for card data, keeping confidential, sensitive information out of reach and helping to increase consumer trust. This is very important following a number of large scale data breaches in the US over the past year.”
Bell ID’s Tokenization Manager, which has already been deployed worldwide to support mobile NFC payments, provides Token Service Provider functionality in line with the EMV Payment Tokenization Specification – Technical Framework v1.0. It will be used by token requesters such as card issuers to manage payment tokens, digital wallet providers to deliver tokens to support mobile NFC payments, and merchants to replace card on-file storage of PANs.
The solution operates and manages a secure repository, referred to as a token vault, which maintains a link between the payment token and real PAN. It also generates the payment token and associated cryptographic data, provides de-tokenization services for transaction authorization and clearance, and delivers access to securely issue and manage the lifecycle of the token.
“The ability to manage the payment token securely and efficiently is very important, as it can be ‘unlinked’ from the PAN if the token is no longer required. For example if a mobile handset is lost or stolen or a customer closes their account with the merchant,” explains Curran. “We have leveraged our long-standing experience in this space to create a product that provides a seamless user experience for our customers and consequently end users, whilst increasing the security of mobile payment credentials. It is measures such as these that will pave the way for the mass market adoption of mobile payments.”
To find out more about Bell ID Tokenization Manager, visit the Bell ID website. Bell ID will also be present at Money 2020 and Cartes offering a comprehensive demo of the solution – schedule a meeting via our website.
Host Card Emulation: How to Take Direct Control of Mobile Payments
Glasgow Subway Ticketing wins Prestigious Award
August 2014
Glasgow Subway Ticketing wins Prestigious Award
– Nevis Technologies ‘Bramble’ ticketing proves a hit –
The Glasgow Subway Smart Ticketing system has been recognised at the Scottish Transport Awards by winning the ‘Excellence in Technology and Innovation’ award.
The awards, which were held at the Raddison Blu in Glasgow, are designed to recognise innovation, excellence and progress across all areas of transport and are regarded as the highest industry accolades in Scotland.
The Glasgow Subway smartcard ticketing system was launched in October 2013 as part of the Subway’s £300m modernisation programme. The aim for the new ticket system was to be easy to use for passengers whilst offering greater choice on payment options and the ability to offer new flexible ticket types and special offers.
The tap in/tap out system provides a complete database of journey and ticket sales information, allowing for improved planning and service provision.
The ‘Bramble’ smartcard, based on the UK open standard known as ITSO, is capable of being used on different modes of travel and holds stored value for pay-as-you-go journeys. The smartcards and software that supports the Subway ticketing deployment is provided by Nevis Technologies.
David Braddock, Director of Nevis Technologies said:
“This latest award recognises the first implementation of Bramble ticketing through Nevis Technologies. We introduced the technology on the Subway as a starting point but our aim is to roll out the Bramble Smartcard across all modes of transport in Strathclyde and offer customers a truly seamless travel experience.
We are delighted that the deployment of the ticketing system has been recognised, it is especially gratifying given high profile smartcard schemes that were competing in the same category. The Subway Smartcard, also known as the ‘Bramble card’ has been developed by Rambus Ecebs and delivered via Nevis through a unique private/public partner endeavour which brings together a wealth of expertise from both the transport and smart technology industries. It has already attracted almost 30,000 customers, despite only being available for the past five months.”
Wave and Bell ID Partner to Combat Online Payment Fraud
EMV card-present transactions enabled for E-Commerce by integrating TPM technology.
Wave Systems Corp. (NASDAQ: WAVX) announced it is partnering with chip lifecycle management solutions company, Bell ID, to offer a joint solution aimed at reducing online payment fraud. The solution will be marketed primarily to card issuing banks, as well as online merchants, governments, and enterprises worldwide.
Using Bell ID’s Trusted Service Manager and Secure Element in The Cloud (SEiTC) server, alongside Wave’s ERAS for TPM management and Wave’s endpoint identity and monitoring expertise, the combined offering provides robust protection for transactions and stored payments. The companies have executed a letter of intent and anticipate the signing of a definitive agreement in August.
The incident rate of card-not-present (CNP) fraud has been growing steadily over the past several years. According to a recent FICO Banking Analytics Blog, CNP fraud now accounts for close to half of all credit card fraud. Countries that have already adopted the EMV® card specification have seen CNP fraud rates increase. In the United States, CNP fraud is expected to rise significantly over the next eighteen months, as the EMV standard is put into effect. The EMV directive, which implements a global standard for a secure chip-based payment application, will make merchants liable for any fraud resulting from transactions on systems that are not EMV-capable.
“Wave’s robust product portfolio is very complementary to Bell ID’s strongly positioned solution set in the financial services market,” said Bill Solms, CEO, Wave Systems. “We see the EMV transition creating high demand for more secure transaction capabilities, and are confident that together we can provide financial institutions with a comprehensive solution for payment authorization and storage.”
“Bell ID has been a pioneer in developing and delivering cloud-based payment platforms” adds Pat Curran, Executive Chairman at Bell ID. “We also have extensive experience in delivering EMV solutions globally and have witnessed fraud transition online as point-of-sale terminals in face-to-face transactions become more secure. We are therefore delighted to extend our offering with Wave to provide a secure online transaction and storage payment solution, which will mitigate against an expected rise in online fraud and provide a trusted link between device identity and internet services.”
Bell ID Joins Mobey Forum
Offers HCE Expertise To Global Industry Association
Token management specialist, Bell ID, has become a member of Mobey Forum, joining other industry players in empowering banks to take the lead in mobile money. As a new Associate Member, Bell ID will lend its expertise in host card emulation (HCE) to the work of the association’s Business Workgroup as discussions on HCE as a route to market for bank-led mobile payment solutions continue to gain traction across the industry.
Bell ID’s chip lifecycle management software enables banks, mobile network operators and other entities to manage mobile near field communication services and devices, in addition to EMV chip payment cards and other tokens.
“HCE is receiving a lot of press at the moment and is a big talking point for our members,” adds Sirpa Nordlund, Executive Director of Mobey Forum. “Bell ID is a recognized specialist in this area so we welcome its expertise and contribution to further the understanding of the Mobey Forum membership.”
Pat Curran, Executive Chairman of Bell ID, comments: “With HCE coming to the fore, the time was right to join Mobey Forum. With the payment systems working to bring standards forward and Google withdrawing support for physical secure elements, HCE is no longer hype but a credible alternative route to market. As one of the first to market with a cloud-based payments platform, and a background in EMV card management and trusted service management, we look forward to sharing our knowledge and expertise with Mobey Forum.”
Bell ID will contribute to the discussion around HCE at Mobey Day 2014, 7-8 October in Barcelona. Interested to learn more about HCE in general? Watch our short explanatory video.
