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.
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.
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.
| Version | Published | Description |
|---|---|---|
28 Mar 2022 |
EMV® Payment Tokenisation: What, why and how | |
07 Mar 2022 |
Naming Convention for EMV Technology and Word Mark Usage Guidelines | |
| 2.1.1 | 10 Feb 2022 |
EMVCo White Paper on Payment Account Reference v2.1.1 |
15 Sep 2021 |
EMVCo Publishes Guidance for EMV® 3-D Secure Transactions to Utilise EMV Payment Token Data | |
05 Nov 2020 |
EMVCo, FIDO Alliance and W3C Collaborate on Educational Resource for More Secure and Convenient Web Payments | |
18 Mar 2020 |
The Role of EMV® Specifications | |
18 Feb 2020 |
2019: A Year in Review | |
28 Feb 2019 |
2018: A Year in Review | |
29 Jan 2018 |
EMVCo Invites the Payments Community to Gain Insight into Latest Initiatives | |
07 Sep 2017 |
EMVCo Publishes Version 2 of the EMV® Payment Tokenisation Technical Framework |
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.
View all related FAQs (PDF)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.
