Mastercard Payment Transaction Services launches tokenization on WAY4

by PaymentsJournal 0

Mastercard Payment Transaction Services S.A. (MPTS), a European processor, rolls out a new digital payment solution that leverages Mastercard Digital Enablement Service (MDES) tokenization for secure payment card provisioning on mobile devices. The solution allows Mastercard Issuers to easily deploy the latest mobile pay schemes including Apple Pay, Android Pay, Samsung Pay as well as to enable mobile payments on wearables. The project has been implemented together with OpenWay, a software provider ranked #1 by Gartner in digital payment solutions.

 New solution is already used by banks across Europe and allows their cardholders to pay on the go with use of Apple Pay and Android Pay or card issuer’s mobile wallet – both in-store and online. The speed and EMV-level security of these payments are guaranteed by the use of tokens instead of actual PAN. All Mastercard transactions go through the MDES platform, which manages tokens and converts token to card number and vice versa. WAY4, an OpenWay’s card processing platform used by MPTS for card issuing, supports real-time interface to MDES and manages authorization, clearing and settlement for all tokenized transactions.

“This new solution allows us to be an innovative processor that enables all our clients to follow the latest trends in the world of digital payments. Together with our vendor OpenWay, we provide a very attractive time to market for such services, which is now key success factor for our clients participating in the process of digitalization”, – comments Marek Sagan, Member of Management Board, Mastercard Payment Transaction Services S.A.

“Interest in tokenization solutions in banking and e-commerce community is driven by immense growth of mobile commerce. OpenWay has completed more than 10 tokenization projects in Europe and Asia, being the first vendor to launch Apple Pay and Samsung Pay together with banks in a few countries. We believe that the project with MPTS is extremely important and timely for European markets because of high mobile phone penetration, well-developed POS terminals infrastructure, and consumers awareness and high expectation of contactless technology”, – says Maria Vinogradova, Director of Strategy and Market Intelligence, OpenWay.  

 http://openwaygroup.com/news_card.jsp?dcion=994&rgn=1&lng=1

About Mastercard Payment Transaction Services S.A.

Established in 2008 Mastercard Payment Transaction Services is a European payment processor. Headquartered in Warsaw Poland, with business teams located in Frankfurt, Munich, Paris, Madrid and Lisbon. The company provides its customers with end-to-end innovative processing solutions and it has experienced very dynamic growth over the past few years. In addition, Mastercard Payment Transaction Services S.A. supports banks, fintechs and retailers in introducing innovative payment products and is heavily oriented on best practices as well as state-of-the-art technologies of the payment industry. The company is a part of the global Mastercard Processing division with over 2,500 employees supporting customers in 70 countries worldwide.

About OpenWay

OpenWay Group (www.openwaygroup.com) is #1 ranked in digital payment processing software by Gartner since 2009 and the leader in digital wallet software by Ovum since 2016. Its WAY4 open platform is a market-leading solution for card and account issuing, merchant acquiring, transaction switching, omni-channel digital banking, digital wallets and tokenisation, e-commerce gateway, loyalty, and fleet cards. WAY4 software solutions are used by tier-1 and start-up banks, processors, payment switching, telecom and oil companies in Europe, the Americas, Asia, the Middle East, and Africa. We started in 1995 and have grown into a global company with a HQ in Belgium and 12 offices around the world.

WAY4 is the choice for companies looking for revenue-generating, cost-efficient, real-time payment processing. It offers product and service flexibility, dynamic pricing, event-driven architecture, innovation, scalability and high performance. Our clients rely on OpenWay’s expertise to migrate smoothly from rigid and expensive legacy systems to the modern WAY4 payment platform.

WAY4 solutions are certified by Mastercard, Visa, AMEX, Diners Club, JCB, UPI and PCI SSC Council (PA-DSS compliant).