Discover Global Network , the payments brand of Discover, has launched a cloud-based network tokenization platform that helps companies integrate and offer stored payment token specifications. The new network tokenization platform gives companies a scalable and flexible token solution they can provide to their downstream customers and merchants and is set to enable them to integrate stored payment tokens as part of their payment experience.

The platform will first be implemented by the payment platform specialising in mobile and card-present payments, billing, and customer engagement Everyware; payments and financial services technology solutions provider Fiserv; payment intelligence infrastructure startup Pagos, and financial technology platform Adyen. Discover’s network tokenization platform Per the information detailed in the announcement, the network tokenization platform from Discover Global Network is an extension of the Discover Stored Payment Tokens offering and looks to better support the payment relationship between merchants and token requestor aggregators. What is more, it provides Discover partners with a token solution that can be deployed at scale with their merchants.

As such, partners of Discover Global Network will be enabled to integrate the network tokenization platform into their existing software payment platforms, allowing their clients such as merchants and payment service providers to provide their customers with an increasingly simplified and secure payment experience. Commenting on the launch, Discover officials said that the company is building network tokenization services with its enhanced, cloud-based platform in alignment with its long-term strategy to offer a robust, scalable solution in the market, on which it expects to build all its future capabilities. Per their statement, the new platform is designed for the emerging use cases in the market, delivering ease of integration to partners as the payment ecosystem evolves.

More to this point, the press release includes quotes from partners, with Everyware officials stating that their clients are to benefit from the scalable platform that places all at the forefront of modernised tokenization, something that the company has envisioned and looked forward to. Fiserv representatives added that Fiserv will leverage Discover token services across commerce-enabling systems, including Carat, the global commerce platform orchestrating payments and experiences for worldwide businesses. As consumers buying preferences move toward digital, mobile, and online shopping, merchants should secure new channels to deliver the buying experiences expected by today’s consumers.

Within this context, network tokens are considered critical to omnichannel commerce, helping Fiserv’s merchant clients secure their digital borders, better approval rates, and simplify customer experiences. Pagos’ spokesperson further added that network tokenization comes as an important strategy for merchants and the vendors servicing them to better optimize their payment and billing infrastructure to drive more sales and to reduce cost and fraud, something that the company aims to enable for broader opportunities through the partnership with Discover Global Network. As network tokenization has proven to increase the security and performance of online payments, Adyen representatives said that they are looking forward to expanding their capabilities with Discover, ultimately helping merchants stay ahead of the curve and reduce friction for their customers.

Discover Stored Payment Tokens enable the secure shift to digital payments, offering increased security and an improved customer experience. Token requestors and other companies looking to implement Discover’s new network tokenization platform can find additional information by visiting Tokenization Solutions | Discover Global Network. .