The discussion among the panelists focused on tokenization's application in the e-commerce industry, with Kordumova emphasizing how crucial it is for user value and security.
 

Gamba listed the issues with network tokens as follows: "Net documentation coverage is not at 100%. What we've observed is that the 40–60% market lacks issuer level coverage. We arrange for their shipment to us by working with our DSPs, and we handle the placement on our behalf. We have a DSP structure in place to essentially externalize that complexity and lessen the supervision required for what we do, which is to look at provisioning.Every time we tokenize a new card, we make this request, but we don't always receive it back. Using it as our main KPI will help us to gauge our progress toward 100% potential coverage. We are aware that this is not the case, which is why we have been analyzing issuer level data, identifying problematic issuers, and having those discussions.

He went on to say that his organization has been updating its materials in-house for redundancy and performance optimization, allowing them to split costs across several suppliers. Gamba emphasized the importance of talking to issuers to find out why tokens aren't being provisioned and of analyzing token performance to spot problems after provisioning.

According to Hackenberg, financial institutions would otherwise need to integrate, certify, and maintain each of their individual schemes; instead, they might expedite the transition to the market by partnering with and hiring third-party token services providers.

"It will be representative of the solution and be able to read the memo correctly, and this should provide selecting of the card which is automatically displayed to the end users," said Kordumova in describing how Click-to-Pay solutions work. Following this, the base merchants should be required to perform a regular 3DS authentication in order to verify the user's identity. With the most recent release, 3DS is integrated into the Click-to-Pay process, eliminating the need for further authentication when making a payment using 3DS during Click-to-Pay.

Furthermore, we observe that Click-to-Pay has higher approval rates due to its safer transaction processing and the ability to send additional data to issuers throughout the transaction process. Visa announced a 4% rise in approval rates, indicating that there won't be any friction even with 3DS.

In order to expedite the merchant payments process, she continued, they are now analyzing trial data and integrating biometrics into Click-to-Pay systems.

According to Hackenberg, he would want to see a one-click solution in the e-commerce industry. He also believes that increasing issuer adoption and working with merchants to support the service will create additional potential for streamlined offerings and improved consumer experiences.