Rambus has announced the launch of its Payment Account Tokenization solution to secure account-based transactions, such as automated clearing house (ACH) and real-time payments. The solution will enable central banks and clearing houses to replace sensitive account numbers with unique tokens and reduce the impact of fraud for transactions including direct credit and direct debit payments.
The tokenisation solution secures card payments by replacing the account credentials with a cryptographic token. This process reduces the risk and impact of account-based fraud as the foundation of a safe and secure instant payments framework. When implemented by a centralised body, such as a central bank, Payment Account Tokenization reduces fraud and enables key use cases like direct credit, and push payments in real-time.