Did Apple create a tokenization crisis?
by: Michelle Thornton
Remember when you thought tokenization was a low priority for 2014? Chances are, that era ended on September 9. When Apple announced Apple Pay – a mobile payments app that uses near-field communication and tokenization to provide secure, contactless, seamless iPhone and iWatch payments – thousands of credit union executives nationwide immediately wanted to know more.
Since then, we’ve had a moment to process. You can get up to speed – and relatively quickly. Here’s some good news on getting from here to there:
You have time.
Admittedly, you don’t have a lot of time. The first iPhone 6 orders ship this Friday, September 19. But Apple Pay won’t be available until an October software update is released, leaving credit unions a small window. Also, though pre-orders have been impressive, the iPhone 6 will inevitably roll out over time as wireless service contracts run their course. Bottom line: Your deadline is coming, but it certainly hasn’t passed.
You are closer than you think.
Though relatively few credit unions are already using tokenization, this is not a technology that is years away from meaningful deployment. In fact, processes are taking shape and nearly ready to go.
Remember when you thought tokenization was a low priority for 2014? Chances are, that era ended on September 9. When Apple announced Apple Pay – a mobile payments app that uses near-field communication and tokenization to provide secure, contactless, seamless iPhone and iWatch payments – thousands of credit union executives nationwide immediately wanted to know more.
Since then, we’ve had a moment to process. You can get up to speed – and relatively quickly. Here’s some good news on getting from here to there:
You have time.
Admittedly, you don’t have a lot of time. The first iPhone 6 orders ship this Friday, September 19. But Apple Pay won’t be available until an October software update is released, leaving credit unions a small window. Also, though pre-orders have been impressive, the iPhone 6 will inevitably roll out over time as wireless service contracts run their course. Bottom line: Your deadline is coming, but it certainly hasn’t passed.
You are closer than you think.
Though relatively few credit unions are already using tokenization, this is not a technology that is years away from meaningful deployment. In fact, processes are taking shape and nearly ready to go.
– See more at: http://co-opinsightvault.com/2014/09/did-apple-create-a-tokenization-crisis/#sthash.1Dg2lilf.dpuf
Remember when you thought tokenization was a low priority for 2014? Chances are, that era ended on September 9. When Apple announced Apple Pay – a mobile payments app that uses near-field communication and tokenization to provide secure, contactless, seamless iPhone and iWatch payments – thousands of credit union executives nationwide immediately wanted to know more.
Since then, we’ve had a moment to process. You can get up to speed – and relatively quickly. Here’s some good news on getting from here to there:
You have time.
Admittedly, you don’t have a lot of time. The first iPhone 6 orders ship this Friday, September 19. But Apple Pay won’t be available until an October software update is released, leaving credit unions a small window. Also, though pre-orders have been impressive, the iPhone 6 will inevitably roll out over time as wireless service contracts run their course. Bottom line: Your deadline is coming, but it certainly hasn’t passed.
You are closer than you think.
Though relatively few credit unions are already using tokenization, this is not a technology that is years away from meaningful deployment. In fact, processes are taking shape and nearly ready to go.
– See more at: http://co-opinsightvault.com/2014/09/did-apple-create-a-tokenization-crisis/#sthash.1Dg2lilf.dpuf
