Token Service Provider technology secures mobile payments for
Australia’s largest debit card system
SUNNYVALE, Calif. & MELBOURNE, Australia--(BUSINESS WIRE)--
Today Rambus
Inc. (NASDAQ: RMBS) announced that eftpos, the Australian domestic
debit network, is using the Rambus Token
Service Provider (TSP) technology to securely digitize payment cards
to support Android Pay. The proven and trusted Rambus TSP platform
enables eftpos to maintain consumer data securely through tokenization,
which allows the replacement of sensitive data with unique reference
numbers so information is not compromised.
Android Pay enables eftpos cardholders from participating banks and
credit unions to use their eligible Android smartphones for everyday
purchases in-store and within Android apps. Android Pay enables Android
users to seamlessly tap and pay with their phones at payments terminals
across Australia. Android Pay is the simple and secure way to use your
Android phone to pay in stores and within apps. To use Android Pay,
you’ll need to download the Android
Pay app from the Google Play Store. Then simply add your eftpos card
and you are good to go. To use Android Pay in a shop, simply wake your
phone, hold it near the contactless terminal, and your payment will be
complete.
“We're excited to bring the simplicity and security of mobile payments
to eftpos users with Android Pay,” said Pali Bhat, vice president of
product management, Payments, Google. “Using Android Pay is more secure
— and much faster — than rummaging through your wallet for a plastic
card. People with an Android device can pay at almost 800,000
contactless payment terminals in Australia.”
“With more than 40 million debit cards distributed across Australia,
eftpos is one of the most popular payment methods,” said Bret Sewell,
SVP and general manager, Rambus Security division. “This collaboration
with eftpos enables millions of consumers the opportunity to enjoy
secure mobile payments using Android Pay, leveraging our proven Host
Card Emulation (HCE) and EMV tokenization software for truly trusted
transactions.”
eftpos members can now use eftpos debit cards in Android Pay for secure
transactions, leveraging Rambus tokenization software, with nine
financial institutions making the service available to their customers
at launch. To tokenize a payment transaction, the primary account number
(PAN) is sent to a “token vault,” a centralized and highly secure server
stored in a PCI-compliant environment provided by the payment network.
“We are thrilled to be one of the first domestic networks in the world
to offer tokenization services and support Android Pay,” said eftpos
acting CEO, Paul Jennings. “This will bring the convenience of
secure, in store mobile payments to many Australians for the first time.
We are excited to be working with Rambus, to provide customers with
access to their own money via Android Pay at the shops.”
Rambus Token Service Provider
The Rambus Token Service Provider is a comprehensive software platform
that offers different solutions within the tokenized payment
infrastructure. Some of the key capabilities include:
-
Tokenization Management – reduces fraud by removing
confidential consumer card data from the payment network, replacing it
with unique tokens. This includes tokenization of primary account
numbers (PAN), token vault, de-tokenization, domain management,
clearing and settlement support, and identification and verification
support.
-
Host Card Emulation – emulates the functionality of a physical
secure element (SE) in the cloud for use with Near Field Communication
(NFC) transactions, compliant with specifications of major payment
networks featuring a plug-in for mobile wallets.
-
Transaction Management – enables issuers to perform
transactions by calculating cryptogram version numbers (CVNs) on
behalf of the authorization host. It includes cryptogram validation,
assurance level validation, PAN processing, and messaging.
-
Trusted Service Manager – issues contactless payment cards and
provisions static card data and dynamic key material to a physical SE
on a mobile device.
For more details on Android Pay, visit android.com/pay.
For more information on Rambus mobile payment solutions, visit rambus.com/mobile-payments.
Follow Rambus:
Company website: rambus.com
Rambus
blog: rambus.com/blog
Twitter: @rambusinc
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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/20171113005387/en/
Source: Rambus Inc.