Is Apple Pay Tokenization Really the EMVCo Standard?

There is a fair amount of debate and confusion around tokenization standards such as EMVCo, TCH and others. Even EMVCo can't be described accurately by the large PDF file that the body has published (click here to download). Having said that, Apple worked closely with the EMVCo group (the payment networks) and its implementation is very close to EMVCo specs in terms of static time based tokens, token formatting, lifecycle management, PAN ownership, etc.

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