Payments Platform Discover Global Network Introduces Cloud based Tokenization Solution

Discover Global Network, the payments unit of Discover (NYSE: DFS), has launched a new cloud-based network tokenization platform giving companies “a scalable and flexible token solution they can offer to their downstream customers and merchants.”

The new platform will allow companies “to integrate stored payment tokens as part of their payment experience.”

The network tokenization platform from Discover Global Network is “an extension of the Discover Stored Payment Tokens offering, and better supports the payment relationship between merchants and token requestor aggregators.”

It also provides Discover partners “with a token solution they can then deploy at scale with their merchants.”

Judith McGuire, senior vice president of global products at Discover Global Network, said:

“We are building network tokenization services with our enhanced, cloud-based platform. This aligns with our long-term strategy to offer a robust, scalable solution in the market, on which we expect to build all our future capabilities. The new platform is designed for the emerging use cases in the market providing ease of integration for our partners as the payments ecosystem evolves.”

The new platform will first be “implemented by Everyware, a payments platform specializing in mobile and card present payments, billing and customer engagement; Fiserv, a global provider of payments and financial services technology solutions; Pagos, a payment intelligence infrastructure startup; and Adyen, a financial technology platform.”

Partners of Discover Global Network will be able “to integrate the network tokenization platform into their existing software payment platforms, allowing their clients such as merchants and payment service providers, to offer their customers a smoother and more secure payment experience.”

Discover Stored Payment Tokens “enable the secure shift to digital payments, providing enhanced security and an improved customer experience.”

Casey Klyszeiko, SVP & GM, Global e-Com and Carat Platform at Fiserv, said:

“Fiserv will leverage Discover token services across commerce-enabling systems, including Carat, the global commerce platform that orchestrates payments and experiences for the world’s largest businesses. As consumers increasingly shift buying preferences toward digital, mobile and online shopping, merchants must secure new channels in order to deliver the buying experiences that today’s consumers have come to expect. Network Tokens are critical to omnichannel commerce, helping our merchant clients secure their digital borders, boost approval rates and streamline experiences for their customers.”

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