Discover Global Network has laid out plans to support firms looking to embrace tokenisation with its new cloud-based network.
The new launch aims to provide firms with a ‘scalable and flexible token solution’ they can offer to their downstream customers and merchants.
The platform will first be implemented by Everyware, a payments platform specialising in mobile and card present payments, billing and customer engagement; Fiserv, a global provider of payments and financial services technology solutions; Pagos, a payment intelligence infrastructure startup; and Adyen, a financial technology platform.
Casey Klyszeiko, SVP & GM, Global e-Com and Carat Platform at Fiserv, commented: “Fiserv will leverage Discover token services across commerce-enabling systems, including Carat, the global commerce platform that orchestrates payments and experiences for the world’s largest businesses.
“As consumers increasingly shift buying preferences toward digital, mobile and online shopping, merchants must secure new channels in order to deliver the buying experiences that today’s consumers have come to expect. Network Tokens are critical to omnichannel commerce, helping our merchant clients secure their digital borders, boost approval rates and streamline experiences for their customers.”
It marks an extension of the Discover Stored Payment Tokens offering, and strengthens support for the payment relationship between merchants and token requestor aggregators.
“We are building network tokenization services with our enhanced, cloud-based platform. This aligns with our long-term strategy to offer a robust, scalable solution in the market, on which we expect to build all our future capabilities,” added Judith McGuire, SVP of Global Products at Discover Global Network. “The new platform is designed for the emerging use cases in the market providing ease of integration for our partners as the payments ecosystem evolves.”
Rehman Baig, Global Head of Payment Partnerships at Adyen, added: “Over the last several years, Network Tokenization has been proven to increase the security and performance of online payments. We’re excited to expand our capabilities with Discover Global Network, which will help our merchants stay ahead of the curve and reduce friction for their customers.”