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EMV Tokenization for all devices, channels, and payment use-cases One card, multiple payments ✅ Let's start with an EMV tokenization definition. EMV tokenization is digitizing a single physical payment card into several independent digital payments means through tokens. EMV Tokenization, in particular, is extremely valuable in a context where we use an ever-increasing number of wallets supporting multiple channels and payment use cases. The same credit card can have as many tokens as the end-user has enabled devices - such as smartphones and wearables, and wallets like OEM-Pays. Besides, as EMV tokenization is omnichannel, it can be used for in-store, in-app, or online payments. It all depends on the individual usage scenario. There's more. Tokens simplify life-cycle management because they can be suspended or deleted for a particular usage or device without impacting other tokens in use – they are entirely autonomous. ✅ How EMV tokenization in payment works When the end-user digitizes his payment card, the tokenization platform converts the primary account number or PAN into EMV Tokens deployed on different wallets and eMerchants. 🔹 Step #1: When the end-user performs a payment online, in-store or in-app, the merchant provides the token and related cryptogram as part of the authorization request to the network. 🔹 Step #2: Then, the Tokenization Platform verifies the transaction's validity and checks that it is the correct token of the right wallet or Merchant. 🔹 Step #3: It then uses the token vault to convert it back to the primary account number (PAN) and recalculate the related cryptogram before requesting transaction authorization from the issuer. It's as simple as that! ✅ What is EMV tokenization in payment? Every player in the digital payment flow needs token technology: from payment card-issuing banks to payment processors, domestic schemes to eMerchants, and private-label issuers to wearables manufacturers. Subscribe for more insights https://lnkd.in/d94JgWBU Source Thales #fintech #payments #tokenization Arjun Panagiotis Paolo Alex Ali Efi Lex Helen Hua

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According to S&P Global, 67% of merchants do not want to have a single point of failure for Payment Processing. 𝗣𝗮𝘆𝗺𝗲𝗻𝘁 𝗢𝗿𝗰𝗵𝗲𝘀𝘁𝗿𝗮𝘁𝗶𝗼𝗻 is more than just a buzzword. Let me explain: A Payment Orchestration Layer is a third party (most of the time) that integrates and handles the relationship with the different payment service providers (PSPs), acquirers, gateways, and banks on a single unified software layer. In other terms, they sit in between the merchant and the entire payment ecosystem. Their role is to bring simplicity, flexibility, and an increase in conversion to merchants. According to S&P Global, 67% of merchants do not want to have a single point of failure for payment processing. Merchants have been integrating multiple payment providers 1 by 1 using valuable time and resources in the process. An Orchestration Layer gives access to multiple payment providers through 1 integration. The Benefits: ► Avoid payment service provider lock-in ► Reach new markets ► Reduce processing fees ► Increase conversions ► Redundancy ► Reduce fraud/chargebacks ► Improve CX with fewer declines A Payment Orchestration Layer can reduce the complexity of a multi-PSP strategy by unifying and managing payment transactions across providers like Checkout.com , Adyen etc. It automatically streamlines the routing of transactions based on rules and logic, 3DS, and cascades until accepted. It can also determine which PSP offers the lowest processing fee for cards or local payment options in a particular country. This solution is mostly seen in eCommerce today, especially for global merchants in digital verticals but is also relevant and expanding in the POS channel: 🔸 Omnichannel: Global merchants using Omnichannel must support many payment methods, and means of interacting with consumers across channels. Orchestrators help to recognize customers across channels and geographies 🔸 Marketplaces: Global marketplaces have some of the most complex set of payments requirements, supporting many buyers, sellers, in many geographies. Orchestrators help marketplaces to support a single infrastructure for managing buyers and sellers across providers. 🔸 SaaS providers expanding into FinTech: Saas providers are increasingly bundling payments to enrich their proposition and to expand their revenue base. Orchestrators can help to centralize technical integration into a broad array of PSPs & payment methods. It’s time to maximize your time, resources, cost, and overall payment strategy. Sources: S&P Global, Flagship Advisory Partners, The Paypers and my friend Arthur Bedel 💳 ♻️ for the summer and picture👌 Sign up here if you like to see more of these explainers, and Payments News updates, in your inbox weekly: https://bit.ly/3xSd1oZ Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ] Anything to add about this subject? [ 𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁 ] Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ] #payments #digitalpayments #paytech #fintech 

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