Mobile Payments Industry Workgroup seeks Opportunities & Challenges in Tokenization Landscape in the U.S.

The Mobile Payments Industry Workgroup (MPIW), convened in January 2010 by the Federal Reserve Banks of Boston and Atlanta through their Payment Strategies and Retail Payments Risk Forum groups, comprises a select set of key players in the mobile payments ecosystem in the United States. The workgroup sees need for interoperable standards as well as common terminology in the area of developments around tokenization.

In a summary of a June meeting released yesterday by the Federal Reserve Bank of Boston, the Mobile Payments Industry Workgroup (MPIW) found that developments in tokenization should instil confidence in a payments environment challenged by frequent data breaches and other payments fraud activ ...

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