TNS, P97 bring tokenization to in-car fuel payments
Transaction Network Services has entered a partnership with cloud-based mobile commerce provider P97 to provide a managed tokenization service for mobile and in-vehicle payments.
At its inception, the partnership enables in-dash fuel payments alone for more than three million vehicles across the U.S.
The P97 PetroZone platform has positioned itself as an alternative to the EMV chip card adoption at gas stations, offering mobile and digital channels that connect retail fuel, convenience stores, quick-service restaurants and other merchants for payments on any device or connected vehicle. It includes in-dash payments at participating Shell gas stations in the U.S.
“The Internet of Things is driving mobile commerce into retail fuel and cars, allowing merchants, oil and gas companies and manufacturers to develop greater consumer loyalty,” Bill Versen, TNS' chief product officer, said in a Monday press release. “Through our partnership, P97 Networks and TNS provide leading tokenization services that protect sensitive consumer data. P97 also gains access to a host of processing partners through the use of TNS’ secure global managed communications platform.”
The TNS service involves token creation, enabling consumer payment accounts to be stored on file in return for tokens. Once a token is generated for an account, all future transactions involving the same account and mobile device use tokens rather than actual account details.
The cloud payment is then enabled through P97, using the TNS tokens for security.
“Working with TNS enables us to leverage their extensive global footprint and reach virtually any payments-related endpoint,” David Nichamoff, vice president of global payments and connected car at Houston-based P97 Networks, said in the release. “Transaction security, speed, and performance are essential components of our customer’s brand reputation and service to consumers. TNS’ reliable, highly available solutions help us provide that quality of service within our mobile payments platform.”
Founded in 1990, Reston, Va.-based TNS has expanded its managed token service in more than 60 countries across the Americas, Europe and Asia Pacific region.