EMV® Payment Tokenisation

Payment transactions are more secure due to the concept of Payment Tokenisation. The Payment Tokenisation Specification provides an interoperable Technical Framework that will benefit Acquirers, Merchants, Card Issuers, and Cardholders. This Technical Framework describes a global Payment Tokenisation ecosystem that overlays and interoperates with existing payment ecosystems to support digital commerce and new methods of payment.

TSP Registration Programme

EMVCo has established a Token Service Provider Code (“TSP Code”), which is a 3 digit code assigned to Token Service Provider (“TSP”) and maintained by EMVCo. The TSP Code is included in the Token Requester ID, which uniquely identifies the pairing of Token Requester with the Token Service Provider. This helps achieve transparency of the entity that provided the Payment Token.

 

BIN Controller Registration Programme

EMVCo has established a BIN Controller Identifier Registration (“BIN Controller ID”), which is a 4 character value assigned to a BIN Controller for purposes of Payment Account Reference (PAR) governance, with registration being maintained by EMVCo.

 

FAQs

Q: What is an EMV® Payment Token?

A: A Payment Token is a surrogate value that replaces the primary account number (PAN) in the payment ecosystem. Payment Tokens are designed to provide transparency to payment ecosystem stakeholders when accepting and processing Payment Tokens. Payment Tokens are restricted to specific domains. For example, a Payment Token may be usable only within the e-commerce acceptance channel at a specific Merchant.

Q: What is the role of EMVCo within Payment Tokenisation?

A: EMVCo defines the Technical Framework to generate, deploy and manage Payment Tokens in a reliable and interoperable manner globally at the point of acceptance. The aim is to provide a level of commonality across the payment ecosystem to support adoption while enabling levels of differentiation that promote innovation. This is achieved while maintaining compatibility with the existing payment infrastructure and providing the potential for increased security by limiting the risk typically associated with compromised, unauthorised or fraudulent use of PANs.

Q: What are the benefits of using a Payment Token based on EMVCo’s Technical Framework?

A: Payment Tokenisation enhances the underlying security of digital payments by potentially limiting the risk typically associated with compromised, unauthorised or fraudulent use of PANs. Payment Tokenisation achieves this by replacing PANs with Payment Tokens that differ significantly in terms of the ability to control or restrict usage to its intended use, e.g. a device or other domain. The implementation of Payment Tokenisation solutions aligned with the Technical Framework provides opportunities to enhance the security of digital payments for Issuers, Merchants, Acquirers, payment processors and stakeholders in the broader acceptance community.

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Get Involved

Draft Specifications and Bulletins are shared with EMVCo Associates and Subscribers, who provide feedback and submit Queries.  They are also eligible to attend relevant meetings to discuss the Specifications.

See ways to participate