Token Service Provider technology secures mobile payments for Australia’s largest debit card system
Nov. 14, 2017 – 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.