Visa, MasterCard and American Express want to overhaul global e-commerce security, ditching account numbers in favour of digital tokens for online and mobile transactions.
This would help with security of course (if the token management UI is realistically usable by all) but it
could also be a huge existential challenge to all layers in the payment processing cake. In some configurations, the big players could take much more control of (and revenue from) the end-to-end process. It could just be a classic "disrupt
the disrupters" move by the established players!
How would be token safe than account number? Guess, with account number you would need other parameters to confirm. In case of just token - it would be a mess if someone gets the hold of token. Hope we come get some elegant solution. All the best.
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