Digital technology is transforming the payments industry. Consumers are looking for secure, fast, convenient ways to make purchases for products and services from any location, any device.
Cloud based and secure element based models are popular and preferred by big players; Apple, Samsung and Google. Although some issuers prefer to offer their own mobile wallets, most of them are willing to be part of Apple Pay, Samsung Pay and/or Android Pay due to popularity and ease of deployment. Digital payment platforms handle most of the work to enable mobile devices to act as a contactless card, however there is still need for a single point of service on the issuer side for tokenization management and reporting services.
PayCore’s Token Manager Solution acts as a single point of service for issuers by managing the communication between Digital Enablement Platforms / Token Service Providers and issuers. Main responsibility of the system is managing the mobile card credentials and handling the integrations with issuers’ systems including online or mobile banking.
