Carta launches turnkey tokenization platform for cloud-based payments

PARTNER NEWS: Transaction technology provider Carta Worldwide has introduced an appliance-based turnkey solution that aims to dramatically reduce the time it takes for large banks, processors and domestic networks to bring tokenized HCE mobile payment services to market.

Carta Worldwide logo The Token Processing Appliance (TPA) removes many of the issues banks have faced in adapting their existing systems in order to bring tokenization and cloud-based payments to market, Carta’s VP of strategic alliances told NFC World.

“Banks are really having a hard time adapting their systems to all of these new standards and tokenization specifically,” Giles Sutherland said. “What the TPA does is simplify that and it puts together all of the required components that will be needed to deliver this type of solution, including the hardware, software, security modules and the testing certification pieces, all into a single package.

“It’s a turnkey solution so that the bank, or the processing platform themselves, can plug it in. While token services offered on behalf of the banks offer ease of setup, banks have shown a strong desire to keep things on-site and in their own premises.

“TPA brings the best of both worlds — it brings the scalability and ease that we’re seeing from the big scheme TSPs like MDES (MasterCard Digital Enablement Service) and Visa Token Service but with more of the custom control and internal management options of a custom software development. This is a really powerful combination.

“From our discussions with the banks and the feedback we’ve had, TPA is carving the time down by a third or even a half in terms of how long it takes to bring it to market.”

More details can be found in the press release:

Carta Introduces Ground-breaking Token Processing Appliance for Cloud-Based Payments

Disruptive advancement for mobile payments gives large processors the flexibility of software and the control of hardware

Toronto, October 15, 2015—Carta Worldwide is pleased to introduce a new product that dramatically expedites speed to market for large banks, processors and domestic networks looking to implement secure mobile payments.

Carta’s Token Processing Appliance (TPA) enables HCE and tokenization-based mobile payments deployment with a turn-key solution. It simplifies on-premises implementation using a highly configurable and easily integrated set of hardware and software modules.

The TPA is the first ever product available in market that delivers a complete package of requisite components for cloud based payments—including tokenization—for in-house deployment.

The combined software/hardware bundle blends the speed and flexibility of cloud-based software as a service (SaaS) models with the security and control of on-premises deployment. Mobile wallet providers can overcome challenges associated with system upgrades, custom software development and ongoing updates with a simplified, scalable offering.

Carta is already one of the world’s leading providers of digital transaction processing, offering custom and hosted solutions for partners in more than 20 countries. This new solution opens up their award-winning hosted approach to hundreds of issuers operating through a domestic network and to large issuers that want to keep solutions in-house.

The TPA changes the mobile payments game—offering an unprecedented combination of flexibility and security. The TPA streamlines testing, certification and on-going updates associated with in-house implementation. For a large issuer, domestic network or processor it means minimized risk, fastest time to market and lower overall total-cost-of-ownership.

The TPA is compliant with specifications for cloud-based payments and tokenization from EMVCo and the payment networks (schemes). TPA core functions include Tokenization Management, Token Transaction Processing and Management, Credential Management and Provisioning along with SDK- or API-driven Mobile Payment Application integration. The tested and market-ready solution simplifies what it typically a lengthy and complex process.

The TPA offers multi-tenant architecture allowing multiple programs to cost-effectively share a common private infrastructure in a segregated virtual environment. Whether housed internally within an issuing bank, or offered as a service on-behalf of banks, all tenants benefit from a flexible long term roadmap—a future-proof solution that can adapt with ever-shifting user needs and technology advances.

“Mobile payments and particularly mobile payment security are critical and complex,” explained Carta CEO Brian Semkiw. “The TPA introduces maximum security with minimum complexity. This disruptive new product aligns with our corporate motto: ‘complexity made simple.’”

Rui Mendes, Carta’s CTO commented, “Processors and the banks that depend on older platforms have the challenge of adapting legacy code to modern payment requirements. TPA provides an effective bridge to address those challenges.”

About Carta Worldwide

Carta is an award-winning leader in digital transaction processing and enablement technologies, delivering new and innovative financial products for the digital world. Carta empowers banks, MNOs, OEMs, merchants and others to enable existing cardholder accounts or issue new financial products for proximity and cloud-based transactions quickly and easily.

Carta is the only platform in the world that offers end-to-end issuance, processing and enablement for digital accounts, including tokenization, digital credential management and provisioning. Carta simplifies payments, delivering fastest time to market and lowest total cost of ownership.

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