Our tokenisation platform just got better
We have released a new version of our tokenisation platform MTP I-TSP (Mea Token Platform Issuer to Token Service Provider).When we set to update our tokenisation platform, we wanted to improve on three things:
- Easier and faster to implement
- Easier to maintain
- Letting you do more with less
What's new
Out-of-the-box On-Behalf-Of rule engine
If you’re wondering what this mouthful of words and hyphens means: Imagine that a cardholder wants to add their payment card to Google Pay or Apple Pay (through a process we call digitization). Whether or not this will be successful will depend on the following decision path.
- The digitisation request is accepted without additional verification, called the “green path.”
- The cardholder is requested to provide additional verification, e.g., an OTP – the “yellow path.”
- Digitisation is denied – the “red path.”
This decision process is automated by a rules engine. Building such a rules engine to work smoothly and reliably can take an intimidating amount of development and testing time, let alone expertise. Our new tokenisation platform, I-TSP 2.0, includes this rules engine which is based on industry best practices and years of experience.
Simpler and faster to implement
Entering the world of payment tokenisation and mobile wallets isn’t easy. Two of the hurdles include the requirement for specific, relatively niche industry knowledge and the complexity of the underlying software that must constantly evolve along with the security and performance standards of the schemes and market. I-TSP 2.0 addresses these issues.
The APIs are generic and require little to no tokenisation knowledge from developers to implement. We also trimmed the number of APIs from 9 down to 4, calls from 12 down to 7, and fields from 120 down to 28. This streamlining makes the flow and implementation substantially easier to understand and implement correctly.
Leveraging our established connections with the schemes, we can substantially cut time to market during your tokenisation enablement project. You will enter the testing phase with the schemes with a confident team player who has been through it before.
All the benefits of the earlier version
On top of being a faster, easier, and more complete solution, I-TSP 2.0 offers all the benefits of the earlier version:
Enabling mobile wallets, contactless payments, merchant tokenisation, and EMV Secure Remote Commerce (SRC)
- Automatic updates to the latest TSP services and security standards
- All major payment schemes and mobile wallets through one integration
What does this mean for you?
For this version of our tokenisation platform, we have been focusing on shortening the time to market and reducing the implementation complexity. So, if you have already implemented our tokenisation solution, you won’t have to do anything.
However, if you are looking for a tokenisation enabler, we’ll get you there 30% faster than before and up to 70% faster than if you did it from scratch.
We’ll be happy to provide more details and discuss your tokenisation needs. Just click this link, and we’ll get in touch.
- What is MeaWallet's I-TSP platform, and what does it do?
MeaWallet's I-TSP (Mea Tokenisation Platform) is a platform that enables tokenization for payment services. Essentially, it helps integrate mobile wallets and contactless payments for issuers (banks etc.) through Token Service Providers (TSPs).
- What were the main goals for the new I-TSP 2.0 update?
- Faster and easier implementation: Reduce development time and expertise needed for integration.
- Easier maintenance: Simplify ongoing maintenance of the tokenization platform.
- Increased functionality: Provide more features with a streamlined platform.
- What is an "Out-of-the-box On-Behalf-Of rule engine" and how does it benefit users?
This feature automates decisions about accepting or rejecting payment card digitization requests (adding cards to mobile wallets like Apple Pay). It saves developers time and resources by eliminating the need to build and test this functionality themselves.
- How does I-TSP 2.0 address challenges faced by new entrants in the payment tokenization space?
- Reduced knowledge requirements: The platform uses generic APIs that require less specialized tokenisation knowledge for developers.
- Simplified integration: The number of APIs, calls, and data fields have been significantly reduced, making integration faster and easier to understand.
- Faster time to market: By leveraging MeaWallet's existing connections with payment schemes, users can enter the testing phase quicker.
- Does I-TSP 2.0 offer any new features compared to the previous version?
No, I-TSP 2.0 focuses on improving implementation speed and ease of use. It still offers all the features of the previous version, including: * Enabling mobile wallets and contactless payments * Merchant tokenization * EMV Secure Remote Commerce (SRC) support * Automatic updates and integration with all major payment schemes
- Who should consider using MeaWallet's I-TSP 2.0 platform?
This platform is ideal for issuers (neo-banks etc...) looking to enable mobile wallets, contactless payments, and other tokenization features.
- If I've already implemented the previous I-TSP version, do I need to upgrade?
No, the upgrade focuses on streamlining new implementations. You won't need to take any action if you're already using the earlier version.
- How much faster can I implement tokenisation with I-TSP 2.0?
MeaWallet I-TSP 2.0 can reduce implementation time by 30% compared to their previous platform and up to 70% compared to building from scratch.
- What are some of the potential drawbacks of using a pre-built platform like I-TSP 2.0?
While convenient, pre-built platforms may offer less customization compared to building a solution from scratch. This may be a consideration for issuers with specific needs or complex integration requirements.