TokenID

TokenID is a payment security by tokenization technology that provides cheap and quick merchants’ acquisition facilities to PSPs.

Market expansion is a key factor to success at the Payment Service Providers market; it not just retains and brings new customers, but it also increases payments’ volumes and therefore increases revenue. The market offering expansion is called “merchants’ acquisition” and this is both expensive and prolonged process. Ability to overcome these drawbacks and expand merchants’ base quickly and inexpensively gives PSPs sufficient competitive advantage. TokenID provides merchants’ acquisition facilities to Payment Service Providers leveraging existing credit cards infrastructure by converting PSPs payment transaction into credit card transaction and issuing one-time-valid credit card number. Thereby TokenID solution enables e-wallets and other financial establishments’ customers pay any businesses around the world with no need in business arrangements and technical integration (for both online and POS/NFC shopping). TokenID generates revenue from credit cards interchange fees and shares it with its business partners: Payment Service Provider (which owns customers) and Bank/Issuer (which owns credit card numbers range used by TokenID to complete transactions). Cooperation with TokenID brings essential profits to its business partners. Partnership with TokenID:  * enables PSPs to benefit payment transaction at merchants that are not accepting its payment method and otherwise never being part of offering  * enables Banks/Issuers to benefit payment transaction of alien customers, otherwise never used Bank/Issuer payment facilities