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Digital commerce is growing rapidly, with new ways to make payments proliferating
Tokenization was created as a standard for the ever-expanding payments ecosystem
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Payment Account Reference (PAR) Overview Chandra Srivastava Smart - - PowerPoint PPT Presentation
Payment Account Reference (PAR) Overview Chandra Srivastava Smart - - PowerPoint PPT Presentation
Payment Account Reference (PAR) Overview Chandra Srivastava Smart Card Alliance Payments Summit April, 6 2016 Tokenization was created as a standard for the ever-expanding payments ecosystem Digital commerce is growing rapidly, with new
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Meet the Millers video
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PAR – What is it
A Payment Account Reference (PAR) is a unique identifier associated with a specific cardholder PAN. This 29 character identification number can be used in place of sensitive consumer identification fields, and transmitted across the payments ecosystem to facilitate consumer identification.
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PAR –Characteristics and Requirements
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PAR – Availability & Sourcing
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PAR transaction overview
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Potential Key Benefits (Merchants & Acquirers)
Ø Real Time Cardholder Identification Ø Omni-channel CRM Ø Enhanced Risk / Fraud /AML Ø Enhanced Loyalty / Rewards Programs Ø Better Account lifecycle management
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PAR Industry Update
Ø EMVCo has published PAR Bulletin and in the process of publishing FAQ & White Paper Ø Networks Associations are putting plans in place to support PAR Ø Smart Card Alliance is publishing a white paper on EMVCo PAR Ø Stakeholders are getting aware of PAR
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Thank You
For additional information contact Chandra Srivastava csrivast@visa.com
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