“ Tokenisation is well-established in payments , but the list of potential use cases in other fields is breathtaking ”
KEN MOORE , CHIEF INNOVATION OFFICER ,
MASTERCARD
In the payments space , network tokens compete against those issued by payment service providers , while identity and access management sees competition between technology providers like Google and Apple .
Over time , the market could consolidate or standardise , with token providers transitioning into adjacent areas . Consumer adoption requires education about benefits including privacy , security and consent management capabilities .
From the merchant perspective , introducing new token types or use cases requires updating critical yet outdated technology platforms and retokenising critical data .
Data localisation laws require processing within specific countries , complicating efforts to create harmonised tokenisation models . Cross-border payment tokens face regulatory scrutiny across multiple jurisdictions .
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