Today, Pri-Num Ltd., an award-winning United Kingdom-based digital transactions and mobile wallet platform provider, confirmed that it has now successfully migrated VTB Mobile Pay solution to Visa Token Service (VTS).
EMVCo tokenization process has been accepted as a worldwide standard for secure digital payments and is attaining traction globally. Pri-Num believes that it was the right time to transition VTB Mobile Pay, originally implemented by Pri-Num in 2015, to VTS and transform the payment solution to make use of the tokenization tools. Tokenization is a new type of security replacing sensitive account information with a unique digital identifier - token, which permits payments to be processed without exposing account details.
“Pri-Num is excited to partner with VTB Georgia and to contribute further to the expansion of digital payments in the country,” expressed, Grigoriy Roginsky, Head of Business Development, Pri-Num.
VTB Mobile Pay service makes use of tokenization technology with a help of Prime Tokenization Services Platform® that supports the role of a Token Service Provider as described by the EMVCo specifications. Prime Tokenization Services Platform® includes onboarding and management, token provisioning, identification and verification, token lifecycle management, mobile app SDK, configuration, maintenance of a token vault and tokenization for custom account services.
“We have already made history with the VTB bank enabling the first mobile payment application in the country and can now support the market with secure tokenization services for a wide array of digital solutions,” added Mr. Roginsky.
As the digital world evolves, Pri-Num continuously develops new and secure digital payment services, promotes consistency envisioned in the industry standards to ensure customers can continue relying on Pri-Num products in the future.