# Rambus Makes Real-time Payments Safer with Payment Account Tokenization Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2018-05-11 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: Secure Account-to-Account Transactions with Payment Meta Description: Protect account numbers with secure tokens to reduce fraud and enable real-time payments. Learn how Rambus Inc. (NASDAQ: RMBS) is leading the way. URL: https://financedigest.com/rambus-makes-real-time-payments-safer-with-payment-account-tokenizationhtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fd100518-1-3-1736842745567-compressed.jpg) _Secures account-to-account transactions by removing sensitive information from the transaction process_ [Rambus Inc.](https://www.rambus.com/?utm_source=iseepr&utm_medium=press%20release&utm_campaign=PAT) (NASDAQ: RMBS) today announced the launch of its [Payment Account Tokenization](https://www.rambus.com/security/payments/payment-account-tokenization/?utm_source=iseepr&utm_medium=press%20release&utm_campaign=PAT) solution to secure account-based transactions, such as automated clearing house (ACH) and real-time payments. The solution will enable central banks and clearing houses to replace sensitive account numbers with unique tokens and reduce the impact of fraud for transactions including direct credit, direct debit and person-to-person (P2P) payments. **Reduce account fraud through tokenization** Payment Account Tokenization secures card payments by replacing the valuable account credentials with a cryptographic token. This process significantly reduces the risk and impact of account-based [fraud as the foundation of a safe and secure instant payments](https://www.financedigest.com/combating-payment-fraud-in-the-era-of-contactless-everything.html "Combating payment fraud in the era of contactless everything") framework. When implemented by a centralized body, like a [central bank](https://www.financedigest.com/marketmind-rba-shock-hike-starts-huge-week-for-central-banks.html "Marketmind: RBA shock hike starts huge week for central banks"), Payment Account Tokenization reduces fraud and enables key use cases like P2P, direct credit, and push payments in real-time. “Tokenization has already been proven successful in [securing mobile payments](https://www.financedigest.com/contactless-payments-the-way-of-the-future-or-security-scare.html "Contactless Payments – The Way of the Future or Security Scare?") worldwide.  Our Payment Account Tokenization does the same for real-time payments, enabling account-based transactions to be processed faster and safer than ever before,” said Bret Sewell, SVP and general [manager of the Rambus Security](https://www.financedigest.com/education-security-in-2022-hybrid-cloud-device-management-drives-it-challenges.html "Education Security in 2022: Hybrid-Cloud, Device Management Drives IT Challenges") Division. 451 Research principal analyst, Jordan McKee notes, “Digital has paved the way for fast and easy [payment experiences](https://www.financedigest.com/how-netflix-justeat-and-uber-raised-the-bar-for-the-payments-experience.html "How Netflix, JustEat and Uber raised the bar for the payments experience"), prompting a rise in account-based transactions. Fraudsters have made [note of this trend and are increasing their focus on account credentials given their growing](https://www.financedigest.com/the-clean-label-starch-market-to-grow-on-an-innovatively-cordial-note.html "The Clean Label Starch Market To Grow On An Innovatively Cordial Note") disbursement across many locations, including e-commerce websites, mobile and P2P wallets, invoices and payroll. To protect [customers and thwart fraudulent attacks](https://www.financedigest.com/how-to-detect-and-defend-from-seo-attacks-and-customer-complaints.html "How to Detect and Defend from SEO Attacks and Customer Complaints"), businesses must implement security tactics that serve to eliminate the use of sensitive credentials in the transaction flow.” **Managing account data, faster and safer** The introduction of real-time payments increases risk for financial institutions, as they now have seconds instead of days to identify fraudulent transactions. By removing account numbers from the transaction process completely, tokenization can significantly reduce the risk and [impact of account-based fraud and create secure real-time payments](https://www.financedigest.com/the-latest-trends-in-instant-payments-and-how-they-impact-banks.html "The latest trends in instant payments and how they impact banks") frameworks. **[Key features of Rambus Payment Account](https://www.financedigest.com/b2b-specialist-pr-agency-the-digital-voice-announces-four-key-account-wins-as-it-celebrates-its-tenth-birthday.html "B2B specialist PR agency The Digital Voice announces four key account wins as it celebrates its tenth birthday") Tokenization** The Payment Account Tokenization solution consists of a number of primary features, including: - **Account-based tokenization** eliminates the [need to store and transmit sensitive account](https://www.financedigest.com/retirement-accounts-how-to-choose-the-right-retirement-account-for-your-needs.html "Retirement Accounts: How to Choose the Right Retirement Account for Your Needs") information, alleviating the risk of stolen credentials being used to commit transactional fraud. The [system integrates with existing](https://www.financedigest.com/computerized-physician-order-entry-cpoe-systems-market-to-generate-profitable-avenues-for-existing-companies-as-well-as-new-players.html "Computerized Physician Order Entry (CPOE) Systems Market to Generate Profitable Avenues for Existing Companies as Well as New Players") infrastructure and tokens route normally through the payment network. - **Life cycle management** enables banks to link, suspend, (re)activate or unlink tokenized [bank account](https://www.financedigest.com/lebanese-bank-closes-over-30-british-held-accounts-after-uk-ruling-depositors-group.html "Lebanese bank closes over 30 British-held accounts after UK ruling-depositors’ group") numbers. - **Domain controls** limit token usage to a specific channel, merchant or spending limit by applying a set of parameters. Any use of the intercepted token outside of its set parameters would immediately flag as fraudulent and render the token useless. - **Cryptogram protection** generates application cryptograms prior to a payment and validates them during a transaction. A cryptogram is a fingerprint of the transaction, holding elements of the originator, recipient, financial institution and the transaction. - **A token** [vault is a secured](https://www.financedigest.com/five-ways-bad-bots-are-trying-to-crack-your-virtual-vaults-by-erez-hasson-strategist-application-security-at-imperva.html "Five Ways Bad Bots Are Trying To Crack Your Virtual Vaults") repository, or database, that establishes and maintains the payment token to Sending/Receiving Account number mapping. The token vault is the only area in which the token can be mapped back to the consumer’s original card details. All token vaults comply with Payment [Card Industry](https://www.financedigest.com/virtual-cards-will-help-lead-the-travel-industry-into-a-post-pandemic-boom.html "Virtual cards will help lead the travel industry into a post-pandemic boom") (PCI) specifications. ![tokenization](http://www.financedigest.com/wp-content/uploads/2018/05/tokenization.jpg) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---