BIBD enables cardholders to pay securely on mobile devices with
Rambus Token Service Provider solution
SUNNYVALE, Calif. & BANDAR SERI BEGAWAN, Brunei Darussalam--(BUSINESS WIRE)--
Rambus
Inc. (NASDAQ: RMBS) a leader in digital security, semiconductor and
IP products and services, today announced that Bank
Islam Brunei Darussalam (BIBD), the largest bank in Brunei, has
selected the Rambus
Token Service Provider (TSP) as part of its mobile payment strategy
to enable secure transactions to its customers.
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Rambus Token Service Provider (Graphic: Business Wire)
As Asia has seen a proliferation of digital payment solutions in recent
years, the need to secure digital transactions has become critical to a
bank’s success. With the rise of solutions such as QR-based payment, NFC
(near field communication), host card emulation (HCE) and real-time
payments, consumer trust has become critical to success, with security
and fraud prevention more important than ever to businesses and
end-users alike.
Payment tokens help minimize fraud
The Rambus TSP solution helps secure the BIBD NEXGEN Mobile banking app,
allowing customers to digitize their cards and send payments, without
revealing any sensitive payment information. The Rambus software
platform will replace cardholders’ details with unique reference numbers
to minimize the risk of fraud and the severity of data breaches. Unique
payment tokens are worthless if stolen.
Tokenization and host card emulation support secure payments within
BIBD NEXTGEN Mobile app
By generating temporary personal account numbers (PANs), or payment
tokens, the Rambus solution is a modular platform that combines
tokenization with host card emulation to enable payment issuers and
processors to securely perform a wide variety of roles in the payment
process. Using HCE and tokenization, BIBD will enable their cardholders
to securely pay using their mobile app.
“We’re delighted to be selected by the largest bank in Brunei to secure
mobile payments for BIBD’s customers,” said Chakib Bouda, vice president
and CTO, Rambus Payments. “This collaboration reinforces our leadership
in mobile payment and tokenization technologies. It also marks
significant progress in our efforts to expand into the Asian marketplace
that is seeing a boom in digital payment solutions.”
“As the security of our customers is our highest priority, we are
pleased to announce our collaboration with Rambus to enable our
customers to pay safely and securely with their mobile devices,” said
Dr. Gyorgy Ladics, COO, BIBD. “While digital payment methods grow
exponentially in the marketplace, customers are becoming increasingly
mobile-centric; therefore, it’s imperative to facilitate mobile
transactions in a hassle-free and secure manner, providing the ultimate
ease of mind for our customers.”
For more information on Rambus mobile payment solutions, visit rambus.com/payments.
Or, to learn more about the Rambus Token Service Provider solution, go
to rambus.com/security/payments/token-service-provider/.
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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
Dedicated to making data faster and safer, Rambus creates innovative
hardware, software and services that drive technology advancements from
the data center to the mobile edge. Our architecture licenses, IP cores,
chips, software, and services span memory and interfaces, security, and
emerging technologies to positively impact the modern world. We
collaborate with the industry, partnering with leading chip and system
designers, foundries, and service providers. Integrated into tens of
billions of devices and systems, our products and technologies power and
secure diverse applications, including Big Data, Internet of Things
(IoT) security, mobile payments, and smart ticketing. For more
information, visit rambus.com.
About BIBD
BIBD is the largest financial institution in Brunei Darussalam, leading
the market in terms of assets, financings, and deposits, with a vision
to become globally recognised as the benchmark Islamic Finance
Institution.
BIBD is headquartered in Bandar Seri Begawan with the largest network of
17 branches and 67 ATMs located strategically in all four districts of
Brunei Darussalam.
BIBD was ranked 38th in terms of Soundness (Capital Asset Ratio) in the
top 1,000 World Banks by “The Banker” in 2016. BIBD is one of the safest
banks in the world and is given an impressive credit rating of A- by
Standard & Poor’s in 2015, the highest for a Bruneian bank and among the
highest in the region, which was reaffirmed in 2017. BIBD has been named
the “Best Retail Bank in Brunei” by The Asian Banker six years in a row
from 2013 to 2018.
For more information on any of BIBD’s other products or services, please
log on to the BIBD website at http://www.bibd.com.bn,
visit your nearest BIBD branch or get in touch with the BIBD Contact
Centre at 2238181.
Source: Rambus Inc.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20181205005205/en/
CORI PASINETTI
Rambus Corporate Communications
Tel: (408)
462-8306
e-mail: cpasinetti@rambus.com
SHAIRAZI ZAINUDDIN
BIBD Corporate Communications
Tel: +673
2269 817
Fax: +673 2222 430
e-mail: shairazi.zainuddin@bibd.com.bn
Source: Rambus Inc.