Bank Islam Brunei Darussalam goes with Rambus for digital payments
Bank Islam Brunei Darussalam (BIBD) has selected Rambus, a digital security and semiconductor firm, to secure its mobile payment strategy.
The bank’s is implementing Rambus’ Token Service Provider (TSP) capabilities, as it needed a solution to tackle the proliferation of digital payment in Asia, where Rambus had been trying to expand, according to the firm itself.
The bank says that the rise of solutions such as QR-based payments, near-field communication (NFC), host card emulation (HCE) and real-time payments have required banks to improve technology around security and fraud prevention.
“While digital payment methods grow exponentially in the marketplace, customers are becoming increasingly mobile-centric; therefore, it’s imperative to facilitate mobile transactions in a hassle-free and secure manner, providing the ultimate ease of mind for our customers,” says Dr Gyorgy Ladics, COO, BIBD.
The Rambus TSP solution helps secure the BIBD NexGen Mobile banking app, allowing customers to digitise their cards and send payments.
By generating temporary personal account numbers (PANs), or payment tokens, the Rambus solution combines tokenisation with HCE to enable payment issuers and processors to perform a variety of roles in the payment process.
