UBL will be the first bank to offer mobile contactless payments in Pakistan with Visa, Gemalto and 1LINK. UBL is the first bank in Pakistan who has partnered up with Gemalto, a Thales company, Visa and 1LINK to launch digital payment through tokenization on the UBL Digital App. The aim is to offer traditional payment services into convenient, secure and rewarding digital payment experiences. With this ambition in mind UBL will enable its customers to enjoy the freedom and convenience of secure payments, via the bank's existing smart phone app by using Gemalto TTR (TSH - Token Requestor) based on HCE (Hosted Card Emulation) technology.
HCE is a technology that emulates a payment card on a mobile device. Tokenization replaces sensitive payment account information found on payment cards, such as the 16-digit account number, with a unique digital identifier called 'token', that can be used safely on smart phones or any device used to make a payment. The token allows the payments to be processed without exposing the actual card data which can be otherwise potentially compromised.-PR
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