Sequent Software has launched the first Token Service Platform (TSP) to support all types of cards including credit, debit, prepaid and access control credentials. Compatible with all major credit and debit card networks, Sequent Token Service Platform allows banks to deploy a single solution to support their entire credit and debit card portfolio plus profitable private label and prepaid cards.
The Sequent Token Service Platform is a full-service suite with all modules needed to digitize card data: tokenization, card data prep and trust authority. Modules may be deployed together or separately depending on the needs of issuers and existing legacy systems. The Sequent Token Service Platform is compatible with EMV Payment Tokenization Specifications.
CPI Card Group, Sequent’s strategic partner in North America now offers this service to its customers.
Using Sequent TSP, issuers can support issuance of all card scheme-based cards to their apps and not have to independently manage issuance for each card scheme. In addition, banks can use this platform to issue private label cards to merchant partners and their apps. It opens the door for banks to partner with retailers in card issuance thereby giving them not only top-of-wallet effect but also top-of-app.
The Sequent Token Service Platform increases the security of mobile transactions by replacing sensitive personal account information with less valuable “tokens”. These tokens are then provisioned to all types of mobile devices, from smart phones to wearables, letting consumers make payments and open doors anywhere.
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