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Network Tokenization

The major payment network's vision is to convert all eCommerce transaction using sensitive card credentials with tokenized secure credentials using restricted tokens + dynamic one-time-use cryptograms. Mastercard, Visa and Amex have therefore built their TSPs to support Merchants/PSP/Acquirers in tokenizing their stored cards. For Mastercard and Visa, these "sub-services" of their TSPs are called MDES for Merchants and VTS for eCommerce. Merchant/PSP/Acquirers who want to replace their Card-on-File (CoF) storage by tokenizing all their card data and converting it to "Token-on-File (ToF) storage" will need to integrate to the major network TSPs as a token requestor to tokenize each stored card.

The MMT Platform - Network Tokenization Service

The Network Tokenization service of the MMT Platform delivers the connectivity to the major networks' Token Service Providers (TSPs) and function as a token requestor on-behalf of the merchant/PSP. This enables the Merchant/PSP to tokenize different card brands in a CoF storage through a single interface. To make it simple, we can divide the MMT Platform's Network Tokenization service for Merchants/PSP into three main categories:

  • Merchant Tokenization - the part of tokenizing cards and converting CoF to ToF with the payment networks.
  • Payment Processing - the part of performing payments with network tokens and one-time cryptograms.
  • Lifecycle Management - the part of performing lifecycle management of existing tokens stored at Merchant/PSP.