3 ms·
No, the tokenization spec has just been released and Apple Pay is the first (large scale) implementation. Tokenization is a combo of a token bound to a device,
by giovannibajo1 12y ago
No, the tokenization spec has just been released and Apple Pay is the first (large scale) implementation. Tokenization is a combo of a token bound to a device, a one-time signature made through a secret store in a non-readable chip, and a personal authentication of the person through a non-static code.
- mikeash 12y agoDoes that mean that existing chip and contactless systems just transmit the credit card number, as a sort of fancy version of a magstripe?