A Deep Dive into Payments Tokenization
Leveraging, Productizing and Monetizing Tokens
5-Day Payments Tokenization Deep-Dive
SPA-24 – A 5-Day Payment Tokenization Deep Dive – Why a course on Payments Tokenization.
The product and service plans of merchants, corporates, issuers and processors depend on those organizations’ understanding of how payments tokenization really works and how to manage the positive and negative impacts of tokenization on their businesses.
Retail Payments Tokenization has been available for some time. However the current tokenization offerings and technologies are only the first generation of a very powerful payments management capability. Tokenization can add significant value to your business – Properly implemented, tokenization can enable a much closer and more focused relationship between merchants, corporates, processors and issuers and their clients. Conversely, failure to properly manage payments tokenization services by third parties, is an existential threat to your organization’s control over key customer data.
This 5-day deep dive provides both a business planning and product strategy focus on payments tokenization, designed to support decision making by merchants, corporates, issuers and processors on two key questions:
- Does payments tokenization warrant serious consideration by the organization?
- Should the organization invest significant resources in a tokenization capability?
Aim of this Course
This 5 day deep dive first provides a business oriented introduction to the technology of, how it works, who the key stakeholders are and the roles they play in controlling the business and the data generated by payments tokenization . These key stakeholders include leading vendor and outsource solutions, with a focus on the card scheme offerings. Of particular importance is the generation and control of the additional business data generated by tokenization (hint: there are options for businesses to take further control of their payments through appropriately structured tokenization services).
The deep dive then provides a road map for the monetization of payments tokenization into new products and service offerings by merchants, processors, corporates and issuers . The focus is on how tokenization really works in terms of data models, processes and operating environments, and therefore how stakeholders can use payments tokenization to increase their value propositions (hint: the stakes are high, with significant new payments product wins and losses for stakeholders in the payments ecosystem).
Learning Outcomes:
By the end of this course delegates will be able to:
- Identify the relevance of payments tokenization to the delegate’s organization
- Define the true business drivers behind payments tokenization
- Map how tokenization services fit within the payments ecosystem
- Evaluate the market readiness for the adoption of payments tokenization services
- Identify the key players in tokenization
- Define a business case and SWOT analysis for the delegate’s organization
- Illustrate how tokens function
- Specify the organizational responsibilities
- Specify core business & system processes
- Identify tokenization leaders & authorities
- Identify future of payments tokenization
- Specify the operational responsibilities
- Define the legal implications of tokenization
- Identify new tokenization business apps
- Enumerate tokenization market potential
- Identify the business costs and benefits
- Evaluate stakeholder business cases
- Undertake go/no go decision making
Who Should Attend:
This course is specifically designed for organizations that must make a decision as to whether or not the organization should invest or further invest in their payments tokenization capabilities. The key consideration in the design of this training program is ‘How organizations can monetize Payments Tokenization’.
- Bank Strategic decision makers
- Digital system architects
- Banking services development team
- Merchant System Operations
- Process engineering team
- System Network Architects
- Product Development
- Product Management and Marketing
- Fraud Detection department
- Mobile Wallet design specialists
- IT and Technical Departments
Related Courses:
This course provides a deep dive into payments tokenization over a five day in depth program. Delegates can also cover the topics through two separate breakout courses – a two day session focused on the business context for payments tokenization, enabling delegates to identify the relevance, market potential, business case and SWOT analysis of tokenization for their organization (for further information on this breakout course number SPA-24A, please click HERE), and a separate three day session focused on the monetization of payments tokenization, where delegates will be able to undertake in-depth analyses of tokenization products and services in the context of their organization, enabling them to make informed decisions on the adoption, design and use (or not) of payments tokenization in their specific payments environment. (for further information on this breakout course number SPA-24B, please click HERE).
Program Details:
This Tokenization Deep Dive workshop includes at least 4 hands on exercises by the attendees to reinforce the daily learnings.
Day 1 – Why Payments Tokenization?
- Improved fraud, security and much more
- Compliance and regulation
- New product opportunities
- A history of payments tokenization
- Stakeholder value propositions
- The high stakes for payments stakeholders
- The lifecycle of a payments token
- Tokenization within the payments ecosystem
- Introducing the tokenization data model
- Upsides, downsides, opportunities, risks
- The winners and the losers
- Key players and enabling technologies
Day 2 – What is the Market Potential for Tokenization?
- Canada as an example marketplace
- Market factors for cardholder buy in
- Market challenges for end user concerns
- Leading vendors, services and technologies
- The card schemes and their competitors
- In house and outsource options
- Current and emerging use cases
- Global adoption models, status and trends
- Lessons learned from major implementations to date
- The end market perspective
- Liability, compliance and risk
- The high stakes SWOT outline
Day 3 – The Process of Tokenization
- The six party payments ecosystem
- The seven stakeholders in tokenization
- Tokenization in the payments ecosystem
- EXERCISE: Where is your organization in the ecosystem
- Token requesting stakeholder roles
- Token provisioning stakeholder roles
- Token processing stakeholder roles
- EXERCISE: Are your products suitable for tokenization
- Token requesting system processes
- Token provisioning system processes
- Token processing system processes
- EXERCISE: Are your systems ready for tokenization
- Taxonomy of software and services offerings
- Software and services vendors
- Card scheme tokenization offerings deconstructed
- EXERCISE: Best practices for payments business partners
Day 4 – The System of Tokenization
- Token types and intelligence
- Token functions and lifecycles
- Next generation tokens beyond payments
- EXERCISE: What else can be done with payment tokens
- In house, outsource operations continuum
- Tokenization data model
- Security in the tokenization architecture
- EXERCISE: Are your operations ready for tokenization
- Token compliance, standards and protocols
- Who contracts with who, for tokenization
- Token services fees and liability
- EXERCISE: Your organization’s legal obligations in payments
- Mobile payments tokens use cases
- Card on file payments tokens use cases
- Card present payments tokens use cases
- EXERCISE: Is tokenization a paradigm shift
Day 5 – The Business of Tokenization
- The global market perspective
- Key conditions for market success
- Positioning in the market segments
- EXERCISE: How can you approach your target markets
- Managing expanded data and logic
- Monetizing fraud control and security
- Enabling new products and services
- EXERCISE: How can your organization leverage tokenization
- The business case for merchants, for issuers and for processors
- EXERCISE: Is there a business case for your organization
- Questions and decisions to by merchants, by issuers and by processors
- CONCLUSION: The high stakes for payments stakeholders
Students will receive a course workbook and completion certificate at the conclusion of this 5-day course.
SPA-24: A 5-Day – Payments Tokenization Deep-Dive course, is brought to you by Secure Payments Academy, in partnership with Technology Strategies International and VCS Technologies Inc.