Summary of Mobile Payments Industry Workgroup (MPIW) Meeting Discussion on the U.S. Tokenization Landscape - June 2-3, 2014 Summary of Mobile Payments Industry Workgroup (MPIW) Meeting Discussion on the U.S. Tokenization Landscape - June 2-3, 2014

September 23, 2014

The Mobile Payments Industry Workgroup (MPIW) convened a meeting on June 2-3, 2014 to discuss several industry tokenization initiatives being developed for digital and mobile retail payments. The key objectives of the meeting were to: (1) generate an overview of the different industry tokenization initiatives under development (ASC X9, EMVCo, the Payment Card Industry Security Standards Council (PCI SSC), The Clearing House (TCH), and the credit card networks (Visa, MasterCard, and American Express (AmEx)); (2) begin to understand the business and operational perspectives of the tokenization schemes and implementation models; (3) lay the groundwork for conducting an analysis of the similarities and differences across these models; and (4) identify potential risks and gaps that may require industry coordination or input to standards. This paper provides an introduction to tokenization; summarizes the discussion on payment versus non-payment industry tokenization initiatives, and highlights some key differences, issues, and considerations underlying any tokenization models or technical specifications for the payments industry.

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