One long-standing barrier to achieving a successful mobile payments environment has been the lack of a framework to secure the payment credentials and associated end-to-end transactions. Tokenisation of the payment is one way to address this security gap, enabling the faster adoption of mobile payments by replacing a card's primary account number with a random numerical sequence unique to a specific mobile device, merchant, transaction type, or channel.

To better understand this emergent tokenisation landscape, the authors conducted an industry stakeholder assessment by interviewing 31 organisations, including card networks, large and small financial institutions, payment processors, online payment providers, merchant groups, mobile carriers, mobile wallet solution providers, and standards bodies.

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