“The Rambus TSP solution helps secure the BIBD Nexgen mobile banking app, allowing customers to digitize their cards and send payments without revealing any sensitive payment information,” Rambus explains.
Full details are in the press release below. An explanatory ebook, ‘Quick guide to how tokenization secures mobile payments’, produced by Rambus, is also available to download from the NFC World Knowledge Centre here[1].
Bank Islam Brunei Darussalam chooses Rambus to secure mobile payments
BIBD enables cardholders to pay securely on mobile devices with Rambus Token Service Provider solution
SUNNYVALE, Calif. & BANDAR SERI BEGAWAN, Brunei Darussalam – December 5, 2018 – Rambus Inc[2]. (NASDAQ: RMBS) a leader in digital security, semiconductor and IP products and services, today announced that Bank Islam Brunei Darussalam[3] (BIBD), the largest bank in Brunei, has selected the Rambus Token Service Provider[4] (TSP) as part of its mobile payment strategy to enable secure transactions to its customers.
As Asia has seen a proliferation of digital payment solutions in recent years, the need to secure digital transactions has become critical to a bank’s success. With the rise of solutions such as QR-based payment, NFC (near field communication), host card emulation (HCE) and real-time payments, consumer trust has become critical to success, with security and fraud prevention more important than ever to businesses and end-users alike.
Payment tokens help minimize fraud
The Rambus TSP solution helps secure the BIBD NEXGEN Mobile banking app, allowing customers to digitize their cards and send payments, without revealing any sensitive payment information. The Rambus software platform will replace cardholders’ details with unique reference numbers to minimize the risk of fraud and the severity of data breaches. Unique payment tokens are worthless if stolen.
