Discover Launches Cloud-Based Network Tokenization Platform

Published 7 months ago

Discover Global Network, the payments division of Discover®, has unveiled a new cloud-based network tokenization platform. This platform provides a flexible and scalable token solution for businesses to extend to their downstream customers and merchants.

The platform will enable businesses to incorporate stored payment tokens into their payment process. It extends the Discover Stored Payment Tokens offering and improves the payment relationship between merchants and token requestor aggregators. The platform also offers Discover partners a token solution that can be deployed on a large scale with their merchants.

Judith McGuire, Senior Vice President of Global Products at Discover Global Network, explained that the platform aligns with their long-term strategy of offering a robust, scalable solution in the market. This solution will underpin all their future capabilities, catering to emerging use cases in the market and providing ease of integration for partners as the payments ecosystem evolves.

Initial Rollout with Key Partners

The platform will initially be implemented by Everyware, Fiserv, Pagos, and Adyen. Everyware specializes in mobile and card present payments, billing, and customer engagement. Fiserv offers global payments and financial services technology solutions. Pagos is a startup focusing on payment intelligence infrastructure, and Adyen is a fintech platform.

Partners of Discover Global Network can incorporate the network tokenization platform into their existing software payment platforms. This allows their clients, such as merchants and payment service providers, to offer their customers a smoother and more secure payment experience.

Enhanced Security and Improved Customer Experience

Discover Stored Payment Tokens facilitate the secure transition to digital payments. They enhance security and improve the customer experience. Token requestors and other payment companies interested in implementing the new network tokenization platform can learn more from Discover Global Network’s Tokenization Solutions.

Partners Express Enthusiasm

Austin (Larry) Talley, Everyware’s Founder and CEO, expressed excitement about the benefits their clients will gain from this scalable platform. Fiserv’s SVP & GM, Global e-Com and Carat Platform, Casey Klyszeiko, emphasized that network tokens are crucial for omnichannel commerce. Klas Bäck, CEO & Co-Founder of Pagos, highlighted that network tokenization is an important strategy for merchants and vendors. Finally, Rehman Baig, Global Head of Payment Partnerships at Adyen, sees network tokenization as a proven method to increase the security and performance of online payments.

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