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As consumers come to rely more and more on smartphones to access mobile banking and payment services, data security remains a primary concern and hurdle for wider adoption. The market is seeing various products and solutions aimed at protecting consumer data, but one of the most intriguing, and secure, methods is tokenization. Tokenization involves replacing static account data with dynamically generated information that can be used as a one-time, disposable account number. The codes work just like an ATM, debit or credit card but consumers' real card data is never revealed and is kept protected.
Learn how data security is affecting the mobile banking and payment market, and how solutions like tokenization are making mobile financial services more secure for consumers, as well as financial institutions, ATM companies and payment processors.
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