PayCore’s EMV tokenization solution addresses security requirements that are defined in EMVCo and PCI DSS tokenization specifications for any Trusted Service Provider (TSP) or financial institution. PayCore provides a tokenization solution for supporting a Token Service Provider’s required functionality. The tokenization concept is replacing the original PAN number and sensitive data with a new token generated with a token BIN number according to the global standards. The new card can perform a standard payment transaction as usual. In order to perform the transaction flow, a token service provides a de-tokenization and related services to payment networks or issuer banks. The system architecture is designed according to PCI regulations.

The solution provides a token service for token requesters in the system. Token requesters are uniquely defined entities, which require keeping a card’s PAN in a secure environment. Token requester can be a variety of institutions or services, such as:

• Issuers
• HCE Solutions
• NFC Solutions
• Wallets
• Virtual POS Solutions
• Acquirers
• Payment Processors
• Payment Gateways
• Transit Operators
• Merchants
• Device Manufacturers