EMVCo Updates Payment Tokenisation Specification to Introduce ‘Payment Account Reference’

EMVCo website. The specification bulletin accomplishes the following:

  • Introduces PAR as an industry aligned data structure.
  • Describes the presence of PAR in payment token and underlying PAN transactions.
  • Defines PAR to be used as a consistent value for all payment tokens affiliated with an underlying PAN.
  • Outlines how PAR can be used by acquirers, payment processors and merchants to link payment token transactions to those of the underlying PAN.
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