Retail Payments Tokenisation in Canada: The Paths to Success for Canadian Payments Stakeholders

Retail Payments Tokenisation in Canada: The Paths to Success for Canadian Payments Stakeholders

The report provides essential guidance and direction for the tokenisation business cases of Canadian issuers, merchants and payments service providers. It examines payments tokenisation from the business perspective of the key players in the payments ecosystem and provides a critical assessment of the real value, challenges and implications of establishing or participating in tokenisation programs.

The report addresses the following important areas:

Unique Canadian history and approach to tokenisation
Types of tokens and their lifecycles
Stakeholder specific tokenisation roles, responsibilities, fees and costs
Compliance and standards applied to tokenisation
Future developments in tokenisation technology
Challenges with card scheme tokenisation programs
Stakeholder specific business cases and roadmaps to proceed with tokenisation
Thirty two Action Advisories provide essential guidance for business case development.

Key Questions Answered

Who will be doing what in the tokenisation of the card number? - The answer is both complicated and surprising
Who controls the link between the token and the ‘real’ number? – New stakeholders and roles are being introduced into the payments ecosystem
Whose rules and standards will apply to tokenisation in Canada? – There is a new compliance regime around tokenisation with some unique Canadian twists
Who is charging whom for tokenisation services? – While fraud costs may be reduced, somebody has to pay the additional tokenisation services costs
What does the card holder (as the ultimate consumer) think of all this? – Does the cardholder perceive tokenisation as a solution, and does the consumer’s perspective matter? This answer is also complicated and surprising.
Essential Reading
This Navigation Report was written from a business perspective. It is designed to provide the necessary insight for issuers, processors and merchants to identify a way forward in their tokenisation strategies and product plans. If your organization is looking for a path through the minefield in retail payments tokenisation, then this Navigation Report and its 32 Action Advisories is part of your essential reading.