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Eftpos Selects Bell ID’s Tokenization Platform for New Australian Mobile Payments Capability

Eftpos today announced a new partnership with Bell ID to build a flexible, domestic mobile payments capability, including secure tokenization services.

Bell ID’s Token Service Provider platform will integrate with the eftpos Hub: a reliable, secure and scalable centralized switch that provides the Australian industry with a cost effective, real time payments processing platform with the capability to implement new products and services.

Tokenization provides additional security by giving eftpos the ability to replace card numbers with unique reference numbers so that the information cannot be compromised.

eftpos Managing Director, Bruce Mansfield, said the new capability would enable eftpos payments to be made securely across various digital platforms and applications being developed by Australian industry participants.

“It’s great to be partnering with Bell ID on this important project because they have an excellent international reputation in the dynamic area of mobile payments and tokenization,” Mr Mansfield said. “This new capability will enhance competition in the Australian mobile payments market and help eftpos meet the growing needs of this rapidly changing area of payments technology.  It will also provide the Australian industry with the choice of a domestic, secure tokenization service.”

Executive Chairman at Bell ID, Pat Curran, said: “Bell ID is excited to partner with eftpos and to contribute to the mobile payments advancement in Australia. With our Token Service Provider platform, eftpos has the freedom to integrate any of its Members to offer secure tokenization services and provision tokens to a wide array of mobile form factors and channels. This enables eftpos to adapt to the market’s constantly changing dynamics.”

Mr Mansfield added that the new mobile payments capability would complement eftpos’ centralized payments processing hub, the “eftpos Hub”, that is scheduled to be upgraded for online payments this month and tokenization in early 2016.

Since being launched in September 2014, the Hub is already processing almost 2 million eftpos CHQ and SAV transactions a day.


Bell ID Token Service Provider

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.

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.

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