TSYS (NYSE: TSS) announced today it will expand the TSYS Enterprise Tokenization solution to process tokenized transactions made using Android Pay.
TSYS Enterprise Tokenization is a plug-and-play solution that enables issuers to offer digital mobile payment technologies to customers and the merchants that accept them. TSYS maintains active dialogue across the industry and consistently invests in solutions to support the evolving digital commerce landscape. This includes payment brands, smartphone providers and payment platforms such as Android Pay which is enabled by the Android operating system. Android Pay began rolling out gradually on September 10 and will continue across the next few days.
TSYS’ new Host Card Emulation (HCE) solution enhances its existing TSYS Enterprise Tokenization solution to empower mobile payment solutions like Android Pay. It allows payment card information to be stored in the cloud and transferred by a tap of the mobile device at the merchant terminal.
According to eMarketer, the number of smartphone users worldwide is expected to surpass 2 billion in 2016 – 51.7 percent of all mobile phone users1 . The Android operating system runs a majority of all smartphones, and major carriers have committed to providing Android Pay to their customers.
“TSYS will continue to make new digital payment solutions like Android Pay a priority as we strengthen our commitment to mobile payments and the freedom of choice and convenience they provide," said Gaylon Jowers, senior executive vice president, TSYS. "We are optimistic about the positive impact of Android Pay in the mobile payments market, and look forward to supporting all of our clients in their efforts to offer secure and convenient mobile payments for their customers."
About TSYS :
At TSYS (NYSE: TSS), we believe payments should revolve around people, not the other way around. We call this belief People-Centered Payments® . By putting people at the center of every decision we make, TSYS supports financial institutions, businesses and governments in more than 80 countries. Through NetSpend® , A TSYS Company, we empower consumers with the convenience, security, and freedom to be self-banked. TSYS offers issuer services and merchant payment acceptance for credit, debit, prepaid, healthcare and business solutions. TSYS’ headquarters are located in Columbus, Ga., U.S.A., with local offices spread across the Americas, EMEA and Asia-Pacific. TSYS is a member of The Civic 50 and was named one of the 2015 World's Most Ethical Companies by Ethisphere magazine. TSYS routinely posts all important information on its website.