We've been talking a lot in the office about Apple Pay. Since it launched in the U.S. in 2014, Apple Pay has been deployed as a tokenization solution for payment cards in 63 countries.* According to one study, Apple Pay and Google Pay combined to total over $8 trillion in payment volume annually.** Mobile wallets like Apple and Google Pay use tokenization as a way to shield sensitive card information from being compromised. At Cross River, we’re always looking for ways to protect sensitive information, including card tokenization. In this article, we dive deeper into the history of tokenization and the different ways in which card credentials are tokenized to keep them safe.
* - https://www.macrumors.com/roundup/apple-pay/#international_expansion