Re: Payment Tokenization Standards

RE: "Does anyone know if MasterCard actually presented a proposal and if
so, presented it publicly? I'm curious to see what it was"

These contacts are provided at the bottom of the quoted media release:

MasterCard Seth Eisen 914-249-3153 <seth_eisen@mastercard.com>
Visa Inc. Elvira Swanson 650-432-8352 <elswanso@visa.com>
American ExpressNina Chang 212-640-2851 <nina.y.chang@aexp.com>

Should any of us ask, or should it me Manu?

Joseph

On Sun, Jan 19, 2014 at 4:29 AM, Anders Rundgren <
anders.rundgren.net@gmail.com> wrote:

> On 2014-01-17 21:44, Kumar McMillan wrote:
> > RE:
> https://newsroom.mastercard.com/press-releases/mastercard-visa-and-american-express-propose-new-global-standard-to-make-online-and-mobile-shopping-simpler-and-safer/
> >
> > "The proposed framework has incorporated the input of many stakeholders,
> particularly card issuers and merchants.  Over the coming weeks, the
> framework will also be presented to other partners and independent industry
> bodies…"
> >
> > Does anyone know if MasterCard actually presented a proposal and if so,
> presented it publicly? I'm curious to see what it was.
> >
> > I think adopting a token standard would be a small but important step
> toward more secure web payments. It seems easy to achieve given its
> relatively small scope. Especially nice is that it doesn't depend on any
> other payment asset definition or verification protocol or user identity
> spec, etc. It would specify how to process a transaction and nothing else,
> thus, easy to wedge into existing buy flows.
>
> From:
>
> https://newsroom.mastercard.com/press-releases/mastercard-visa-and-american-express-propose-new-global-standard-to-make-online-and-mobile-shopping-simpler-and-safer
>
> "Once a standard is agreed to and implemented, issuers, merchants or
> digital wallet providers would be able to request a token so that when an
> account holder initiates an online or mobile transaction, the token – and
> not the traditional card account number"
>
> To me this looks like a considerably upgraded payment system.
>
> Although the words "Innovation" and "Banks" in the same line doesn't parse
> in my brain, this may actually be more useful than "Secure Code" and
> similar nonsense systems launched in the past.  I'm quite curious on how
> this token is created and its relation to the client platform.
>
> Anders
>
>
> >
> > A tokenization standard could even go hand in hand with request
> autocomplete.
> >
> >
> > On Jan 17, 2014, at 9:46 AM, Anders Rundgren <
> anders.rundgren.net@gmail.com> wrote:
> >
> >> Thanx Joseph, you raised many interesting questions.
> >>
> >> One was if this is "Open Standardization".  This is IMO a huge problem
> for the traditional payment industry and essentially everything involving
> banks: They really don't want to operate in open.  That's why they never
> managed making EMV-cards usable on the Internet which also made the EMV
> value proposal quite lame since the fraudsters simply moved their activity
> to the Internet targeting "Card not present" transactions.
> >>
> >> "Software Patents" is another great topic.  IPR folks have indicated
> that my SKS/KeyGen2 scheme violates tons of smart card patents.  Since I
> have never read these patents and not that many specifications either, my
> guess is that the solutions become more or less obvious when you actually
> begin working in this space.  To be on the safe(er) side I have filed some
> of the core ideas as "Defensive Publications".
> http://ip.com/IPCOM/000229430 http://ip.com/IPCOM/000215433
> >> Although getting a nickel in license fee for every phone sold would be
> great, a patent would in reality only work as a blocker and destroy
> whatever value the idea had.
> >>
> >> Cheers,
> >> Anders
> >>
>
>


-- 
Joseph Potvin
Operations Manager | Gestionnaire des opérations
The Opman Company | La compagnie Opman
http://www.projectmanagementhotel.com/projects/opman-portfolio
jpotvin@opman.ca
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