Tokenization allows Canadian cardholders to make secure mobile
payments
SUNNYVALE, Calif.--(BUSINESS WIRE)--
Today Rambus
Inc. (NASDAQ: RMBS), a leader in digital security, semiconductor and
IP products and services, announced that it has teamed with Samsung
Canada and Interac Association / Acxsys Corporation, the organizations
behind Canada’s leading payment brand, to help enable Interac Debit
on Samsung Pay in Canada. The Interac Token Service Provider
(TSP), developed in collaboration with Rambus,
now helps allow Interac users to make secure mobile debit
payments through tokenized transactions using Samsung Pay. With the
addition of tokenization, this TSP substitutes sensitive information
with unique reference numbers to minimize the risk of fraud.
Samsung Pay, a widely accepted mobile payment solution, is a
highly-secure platform that works with three levels of
security—fingerprint authentication, card tokenization and Samsung’s
mobile security platform Samsung KNOX. Thanks to Samsung’s Near Field
Communication (NFC) technology, Samsung Pay works wherever you can tap
an Interac card today. Now, with the integration of the Interac TSP,
Canadian customers can continue to use Samsung Pay in the most
convenient way possible.
“When it comes to mobile payments, we understand the important balance
of convenience and security and Samsung Pay provides just that – a
simple, secure and convenient seamless mobile payment solution,” said
Paul Brannen, COO and executive vice president of Samsung Electronics
Canada.
Samsung Pay is supported on Galaxy Note8; Galaxy S8 and S8+; Galaxy S7
and S7 edge; Galaxy S6, S6 edge, and S6 edge+; Galaxy Note5 and Galaxy
A5 devices and available exclusively in the Samsung Galaxy Apps Store.
“This collaboration is part of Interac’s ongoing efforts to progress
mobile payments in Canada,” said Debbie Gamble, Interac Association and
Acxsys Corporation’s vice president of digital product and platforms.
“Through our partnership with Rambus and Samsung, we are able to expand
our TSP platform to more users, bringing Interac Debit on Samsung
Pay to consumers in Canada.”
By integrating tokenization technology, Interac Debit on Samsung
Pay is able to protect transaction data and mitigate fraud. This
technology replaces primary account numbers (PAN) with alternative PANs
called payment tokens, making Interac Debit on Samsung Pay a
highly-secure payment option, as these tokens have no value to
fraudsters when intercepted.
“With the rapid expansion of mobile payments, the increase of data
breaches and fraud rates, tokenization technology has become essential
in the mobile payments industry,” said Chakib Bouda, chief technology
officer of Payments, Rambus. “We are excited to be one of Samsung’s and
Interac’s partners to help deliver mobile payment transactions through
our collaboration on the TSP.”
For more details on Samsung Pay, visit http://pages.samsung.com/ca/samsungpay/English/.
For more information on Rambus mobile payment solutions, visit rambus.com/mobile-payments.
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About Rambus Security
Rambus Security is dedicated to providing a secure foundation for a
connected world. Our innovative solutions span areas including tamper
resistance, network security, mobile payment, smart ticketing
and trusted transaction services. Rambus foundational technologies
protect nearly nine billion licensed products annually, providing secure
access to data and creating an economy of digital trust between our
customers and their customer base. Additional information is
available at rambus.com/security.
About Rambus Inc.
Rambus creates innovative hardware and software technologies, driving
advancements from the data center to the mobile edge. Our chips,
customizable IP cores, architecture licenses, tools, software, services,
training and innovations improve the competitive advantage of our
customers. We collaborate with the industry, partnering with leading
ASIC and SoC designers, foundries, IP developers, EDA companies and
validation labs. Our products are integrated into tens of billions of
devices and systems, powering and securing diverse applications,
including Big Data, Internet of Things (IoT), mobile payments, and smart
ticketing. At Rambus, we are makers of better. For more information,
visit rambus.com.
Source: Rambus Inc.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171101005511/en/
Source: Rambus Inc.