Rambus Makes Real-time Payments Safer With Payment Account Tokenization
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Rambus Makes Real-time Payments Safer With Payment Account Tokenization

Secures account-to-account transactions by removing sensitive information from the transaction process

SUNNYVALE, Calif. — (BUSINESS WIRE) — May 9, 2018Rambus Inc. (NASDAQ: RMBS) today announced the launch of its Payment Account Tokenization 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.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180509005399/en/

Rambus Payment Account Tokenization: How it Works (Graphic: Business Wire)

Rambus Payment Account Tokenization: How it Works (Graphic: Business Wire)

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 framework. When implemented by a centralized body, like a central bank, 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 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 Division.

451 Research principal analyst, Jordan McKee notes, “Digital has paved the way for fast and easy payment experiences, 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 disbursement across many locations, including e-commerce websites, mobile and P2P wallets, invoices and payroll. To protect customers and thwart fraudulent attacks, 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 frameworks.

Key features of Rambus Payment Account Tokenization

The Payment Account Tokenization solution consists of a number of primary features, including:

For more information on the Rambus Payment Account Tokenization solution, visit rambus.com/security/payments/payment-account-tokenization/.

Follow Rambus:

Company website:  rambus.com
Rambus blog: rambus.com/blog
Twitter:  @rambusinc
LinkedIn:  www.linkedin.com/company/rambus
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About Rambus Security Division

Rambus Security is dedicated to providing a secure foundation for a connected world. Our innovative solutions span areas including tamper resistance, network security, mobile payment, smart ticketing and trusted transaction services. Rambus foundational technologies protect nearly nine billion licensed products annually, providing secure access to data and creating an economy of digital trust between our customers and their customer base. Additional information is available at rambus.com/security.

About Rambus Inc.

Dedicated to making data faster and safer, Rambus creates innovative hardware, software and services that drive technology advancements from the data center to the mobile edge. Our architecture licenses, IP cores, chips, software, and services span memory and interfaces, security, and emerging technologies to positively impact the modern world. We collaborate with the industry, partnering with leading chip and system designers, foundries, and service providers. Integrated into tens of billions of devices and systems, our products power and secure diverse applications, including Big Data, Internet of Things (IoT) security, mobile payments, and smart ticketing. For more information, visit  rambus.com.

Source: Rambus Inc.



Contact:

Rambus Corporate Communications
Cori Pasinetti, 408-462-8306
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