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Tokenization.

Secure tap-to-pay enablement
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Bring sought-after tap-to-pay functionality to life using your very own banking app

  

Third-party wallet apps and tap-to-pay technology have transformed the mobile device into a powerful payment instrument, primed to replace the traditional plastic card eventually. In the interim, consumer distrust towards these and other mobile payment platforms has retarded uptake. Simple entropy too, since many people see no reason to experiment with new ways to pay.

As highly trusted brands, banks are in a powerful position to change this dynamic and claim front-of-wallet status in digital payments in the process. The route to success lies in building mobile payments services directly into their own apps, switching them on, provisioning them, and securing them with no effort required from their customers.

It starts with card tokenization

The process of tokenization makes use of secure, randomly generated tokens in place of a primary account number (PAN). These tokens are used to provision payment cards into both issuer wallets and third-party wallets without compromising the physical card or linked account. Once complete, cardholders can enjoy these seamless payment experiences:

Issuer wallet tap-to-pay

Android banking app customers can pay for goods directly from their banking apps with one tap of their mobile phones at merchants that offer near-field communication (NFC), tap-enabled point of sale (POS) devices. These payments can be performed without any reliance on third-party wallet apps or physical bank cards.

Third-party wallet enrollment and push provisioning

For banking app customers who prefer using third-party wallet apps, Entersekt’s tokenization service allows for a vastly improved payment registration experience. Instead of customers manually loading their cards, Entersekt’s service automatically prompts users for consent, then securely provisions their chosen bank cards’ tokens into their app of choice, along with a branded visual of the card.

How our tokenization solution benefits you

Entersekt’s card tokenization service creates a superior tap-to-pay experience, with the following benefits for both issuers and cardholders:

Improved customer satisfaction
  • Offers a convenient, cashless, and card-free way to pay
  • Increases app appeal and usage
  • Meets customer expectations for new payment journeys
Increased card revenue
  • Secures transactions for NFC tap-based payments
  • Establishes brand presence in third-party wallet apps
  • Allows NFC tap payments immediately after instant card issuance
Enhanced app security

Get your mobile-first strategy on track with Entersekt’s flexible payment security platform, integrated tap-to-pay functionality, and push provisioning for third-party wallet apps. Contact us today to book a demo!

 
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Entersekt is an innovator of customer-centric fintech solutions. Financial services providers and other enterprises rely on our patented mobile identity system to provide both security and the best in convenient new digital experiences to their customers, irrespective of the service channel. With us, they can concentrate on their innovation roadmap, while delivering intuitive, low-friction digital experiences to their customers.