The report provides essential guidance and direction for the tokenisation business cases of Canadian issuers, merchants and payments service providers. It examines payments tokenisation from the business perspective of the key players in the payments ecosystem and provides a critical assessment of the real value, challenges and implications of establishing or participating in tokenisation programs.
Retail Payments Tokenisation is important for your organization's future as an online merchant, payment processor or issuer. Regardless of whether or not your business takes an active or passive role in tokenisation, your business success will be impacted either positively or negatively (or both) by tokenisation.
Tread with caution, but don't delay in developing your tokenisation strategy. Significant benefits from tokenisation extend well beyond the obvious benefits of increased security for payment transactions. Tokenisation enables a new generation of payments fraud control tools and provides a gateway into fintech and other value-added services.
Merchants, issuers, and processors will all incur increased costs as a result of tokenisation. Tokenisation as currently structured by the card networks, also represent a significant potential for disintermediation from your customers. The risks to merchants, processors, and issuers from tokenisation can be mitigated and the benefits can be maximised, through a thorough understanding of the realities of retail payments tokenisation and the proper implementation of a tokenisation plan.
This Navigation Report provides a critical assessment of the real value, opportunities, shortcomings, and implications of entering into a tokenization program. As a result, your organization is provided with essential guidance for your tokenisation business case, and recommendations for action by issuers, merchants and payment processors.
Tokenisation of payments will have a profound impact on retail credit, debit and prepaid payments. The fundamental relationships between card networks, issuers, merchants, application providers, payments processors, and cardholders are changing in a tokenised payment world. Key stakeholders are positioning themselves for their new roles in this new world of payment tokens. While tokenisation provides immense opportunities for players in the payments ecosystem, navigating this terrain is complex and fraught with risks and challenges.
This comprehensive and independent Navigation Report provides compelling insights that address three key areas critical to building a successful business case for tokenisation:
- What are the business, service and strategic opportunities and impacts of tokenisation for merchants, issuers and payments solution providers?
- How should different players respond to the drive towards tokenisation?
- What are the key considerations that cannot be overlooked in developing the business case for tokenisation?
The report addresses the following important areas:
- Unique Canadian history and approach to tokenisation
- Types of tokens and their lifecycles
- Stakeholder specific tokenisation roles, responsibilities, fees and costs
- Compliance and standards applied to tokenisation
- Future developments in tokenisation technology
- Challenges with card scheme tokenisation programs
- Stakeholder specific business cases and roadmaps to proceed with tokenisation
For more information about this report visit https://www.researchandmarkets.com/r/bhzljh