OpenWay offers the Way4 Token-Requestor Provider Solution to merchant acquirers using the Way4 E-commerce Gateway. This solution is designed to help merchants comply with Mastercard’s new e-commerce tokenization mandate, which is a crucial part of Mastercard’s enhancements to payment security. Full implementation will take place by 2030, and key requirements will be in force as early as January 1, 2025 in selected countries in Europe and the Middle East.
Currently merchants rely on manual card data entry, which exposes sensitive card information to fraud risks. The new Way4 solution introduces a seamless transition to tokenized transactions, which replaces traditional card numbers with secure tokens, making intercepted data useless to hackers. This approach enhances transaction security and future-proofs systems against fraud.
By adopting the Way4 Token-Requestor Provider solution, acquirers ensure compliance with Mastercard's mandates and create new revenue streams by offering this service to merchants who otherwise face high costs in developing their systems. The new Way4 solution replaces PANs with secure, randomly generated tokens. Way4 acts as the token requestor, interacting with Mastercard to enrol the PAN and obtain a unique token for each transaction. This tokenization process covers both the initial card enrolment and subsequent transactions, securely storing the token in the Way4 for future use. This eliminates the need for merchants to handle or store PANs directly.
Key benefits
- Effortless and future-ready compliance: merchants can meet Mastercard’s requirements without implementing their own token-requestor systems, and be prepared to meet similar mandates from other networks like Visa.
- Extra revenue for acquirers and savings for merchants: by centralizing the token-requestor functionality, acquirers can provide this solution to merchants and save them costs, while creating a new revenue stream for themselves. Without this service, merchants would face significant expenses, often in the tens of thousands of euros, to develop and deploy their token-requestor systems. Offering this centralized solution makes it possible for merchants to avoid complex technical developments and costly implementations. It also enhances the value proposition of acquirers as key service providers.
- Smooth transition: the Way4 solution ensures a seamless switch to tokenization for merchants.
- Seamless and disruption-free integration: merchants utilizing the Way4 E-commerce Gateway (EGW) do not need additional integration. The system works out of the box, seamlessly handling tokenization without requiring changes to the merchant's existing systems.
By automating token requests, storage, and processing, the Way4 solution provides a seamless, secure, and compliant process that safeguards sensitive data and reduces the technical burden on merchants. This enables them to focus on business operations without the risk of non-compliance or costly system overhauls.