08 October - MeaWallet, the leading digital payments enabler specialising in card and payments tokenization, has been named the Gold Winner of the Network Tokenization Solution 2024 award at the Juniper Research Fintech and Payments Future Digital Awards 2024.
The Future Digital Awards highlight organisations that have made outstanding contributions to their industries and are positioned to significantly shape the future of fintech and payments. MeaWallet’s leadership in card tokenization technology has earned the company this accolade, underlining its role as a key player in the digital payments landscape.
As a trusted provider of next-generation payments technology to 200 fintechs and payment processors in over 50 countries, MeaWallet is one of Europe’s foremost innovators in mobile payments. The company’s ability to deliver fast time-to-market and high-quality products has made it a preferred partner for banks and fintechs globally when launching a mobile wallet such as Apple Pay, Google Wallet, Samsung Pay, Garmin, Fitbit Pay or even their proprietary wallet.
Card tokenization, the practice of replacing the primary 16-digit account number with a randomly generated 16-digit token during transactions, is a powerful method to protect cardholder data and combat fraud. This key trend is gaining momentum, with Mastercard reporting a 50% year-on-year growth in tokenized transactions in 2023, now representing 25% of all transactions across its network. However, many financial institutions face challenges in implementing tokenization across their systems.
MeaWallet’s tokenization solutions provide businesses with the tools to easily adopt this security technology. By integrating tokenization into their cloud-native infrastructure, MeaWallet ensures that its clients can offer safer, more private, and fraud-resistant payment options.
Thomas B Normann, CPO of MeaWallet, commented: "We are honoured to be recognised as a Gold Winner for our Network Tokenization Solution. This award is a testament to our commitment to driving innovation in digital payment security. Tokenization plays a crucial role in protecting sensitive financial data, and at MeaWallet, we are dedicated to helping businesses implement this technology quickly and effectively.”