BIBD enables cardholders to pay securely on
mobile devices with Rambus Token Service Provider solution
Rambus Inc. (NASDAQ: RMBS) a leader in digital security,
semiconductor and IP products and services, today announced that
Bank Islam Brunei Darussalam (BIBD), the largest bank in Brunei,
has selected the Rambus Token Service Provider (TSP) as part of its
mobile payment strategy to enable secure transactions to its
customers.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20181205005205/en/
Rambus Token Service Provider (Graphic:
Business Wire)
As Asia has seen a proliferation of digital payment solutions in
recent years, the need to secure digital transactions has become
critical to a bank’s success. With the rise of solutions such as
QR-based payment, NFC (near field communication), host card
emulation (HCE) and real-time payments, consumer trust has become
critical to success, with security and fraud prevention more
important than ever to businesses and end-users alike.
Payment tokens help minimize fraud
The Rambus TSP solution helps secure the BIBD NEXGEN Mobile
banking app, allowing customers to digitize their cards and send
payments, without revealing any sensitive payment information. The
Rambus software platform will replace cardholders’ details with
unique reference numbers to minimize the risk of fraud and the
severity of data breaches. Unique payment tokens are worthless if
stolen.
Tokenization and host card emulation support secure payments
within BIBD NEXTGEN Mobile app
By generating temporary personal account numbers (PANs), or
payment tokens, the Rambus solution is a modular platform that
combines tokenization with host card emulation to enable payment
issuers and processors to securely perform a wide variety of roles
in the payment process. Using HCE and tokenization, BIBD will
enable their cardholders to securely pay using their mobile
app.
“We’re delighted to be selected by the largest bank in Brunei to
secure mobile payments for BIBD’s customers,” said Chakib Bouda,
vice president and CTO, Rambus Payments. “This collaboration
reinforces our leadership in mobile payment and tokenization
technologies. It also marks significant progress in our efforts to
expand into the Asian marketplace that is seeing a boom in digital
payment solutions.”
“As the security of our customers is our highest priority, we
are pleased to announce our collaboration with Rambus to enable our
customers to pay safely and securely with their mobile devices,”
said Dr. Gyorgy Ladics, COO, BIBD. “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.”
For more information on Rambus mobile payment
solutions, visit rambus.com/payments. Or, to learn more about
the Rambus Token Service Provider solution, go to
rambus.com/security/payments/token-service-provider/.
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About Rambus Security
Rambus Security is dedicated to providing a secure foundation
for a connected world. Our innovative solutions span
areas including tamper resistance, network security, mobile
payment, smart ticketing and trusted transaction
services. Rambus foundational technologies protect nearly nine
billion licensed products annually, providing secure access to data
and creating an economy of digital trust between our
customers and their customer base. Additional information is
available at rambus.com/security.
About Rambus
Dedicated to making data faster and safer, Rambus creates
innovative hardware, software and services that drive technology
advancements from the data center to the mobile edge. Our
architecture licenses, IP cores, chips, software, and services span
memory and interfaces, security, and emerging technologies to
positively impact the modern world. We collaborate with the
industry, partnering with leading chip and system designers,
foundries, and service providers. Integrated into tens of billions
of devices and systems, our products and technologies power and
secure diverse applications, including Big Data, Internet of Things
(IoT) security, mobile payments, and smart ticketing. For more
information, visit rambus.com.
About BIBD
BIBD is the largest financial institution in Brunei Darussalam,
leading the market in terms of assets, financings, and deposits,
with a vision to become globally recognised as the benchmark
Islamic Finance Institution.
BIBD is headquartered in Bandar Seri Begawan with the largest
network of 17 branches and 67 ATMs located strategically in all
four districts of Brunei Darussalam.
BIBD was ranked 38th in terms of Soundness (Capital Asset Ratio)
in the top 1,000 World Banks by “The Banker” in 2016. BIBD is one
of the safest banks in the world and is given an impressive credit
rating of A- by Standard & Poor’s in 2015, the highest for a
Bruneian bank and among the highest in the region, which was
reaffirmed in 2017. BIBD has been named the “Best Retail Bank in
Brunei” by The Asian Banker six years in a row from 2013 to
2018.
For more information on any of BIBD’s other products or
services, please log on to the BIBD website at
http://www.bibd.com.bn, visit your nearest BIBD branch or get in
touch with the BIBD Contact Centre at 2238181.
Source: Rambus Inc.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20181205005205/en/
CORI PASINETTIRambus Corporate CommunicationsTel: (408)
462-8306e-mail: cpasinetti@rambus.com
SHAIRAZI ZAINUDDINBIBD Corporate CommunicationsTel: +673 2269
817Fax: +673 2222 430e-mail: shairazi.zainuddin@bibd.com.bn
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