Research from the Federal Reserve Bank of Boston urges the ecommerce industry to upgrade to tokenisation as a means of payment in an attempt to reduce fraud.
With payment tokenisation, a customer’s credit or debit account number is replaced with a randomly generated string of numbers, or “token”, which is unique to each user’s mobile device.
A token, according to the research, is indecipherable to fraudsters, even when they intercept it. Tokens are passed through the payment process without
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