BROOKFIELD, Wis.--(BUSINESS WIRE)--Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that it has completed its first tokenized transactions via its Accel® debit payments network.
“Fiserv offers one of the first debit payment networks to enable tokenization, which is required for transactions such as those conducted using Apple Pay™,” said Kevin Gregoire, president, Financial Institutions Group, Fiserv. “Apple Pay is just one example of the rapid changes in the payments landscape, and it is important for Fiserv to equip our clients to deliver the capabilities consumers expect at an accelerated pace. We anticipate that tokenization will play an increasing role in the debit payments industry and Accel is well positioned to accommodate further developments.”
Tokenization replaces the traditional payment card account number (PAN) with a unique string of digital numbers, or token. Because tokens replace PAN numbers, sensitive account information is never shared, thereby providing an additional level of security for debit purchases. For more information on how tokenization works, please see the blog “Answers to Your Questions about Tokenization” on Fiserv.com.
Apple, the Apple logo, iPhone and iPad are trademarks of Apple Inc., registered in the U.S. and other countries. Apple Pay and Touch ID are trademarks of Apple Inc.
- For more information on Accel, visit www.accelnetwork.com
Fiserv, Inc. (NASDAQ: FISV) is a leader in financial services technology and one of FORTUNE® magazine's World's Most Admired Companies. Fiserv enables clients to achieve best-in-class results by driving quality and innovation in payments, processing services, risk and compliance, customer and channel management, and business insights and optimization. For more information, visit www.fiserv.com.