Fiserv Inc., a global provider of financial services technology products, announced today it has expanded its mobile payments product portfolio to include tokenization capabilities via Visa Token Service and MasterCard Digital Enablement Service, according to a press release. These capabilities will be available to all Fiserv-processed debit and credit issuers. Fiserv will also enable its Accel debit processing network to support tokenization for its participants.

By supporting tokenization capabilities, Fiserv said in the announcement, this ensures its financial institution clients can play an integral role in the mobile payments ecosystem. For example, tokenization capabilities are required for cards to be used through the newly announced Apple Pay service.

"As mobile payment technology becomes more accessible and convenient, consumer adoption will accelerate," said Kevin Gregoire, president of the financial institutions group for Fiserv. "Fiserv is equipping our clients to meet growing consumer demand for payments from their mobile device, whether they are paying a bill, paying another person or making a purchase. Our partnerships with Visa and MasterCard to support tokenization, and our planned support of tokenization through our own Accel network, are part of our overall commitment to bringing secure and simple digital payment solutions to our clients and their customers."