An NFC (Near Field Communication) issuer wallet is a mobile banking app that enables a mobile device for contactless payment, allowing consumers to securely pay by “tapping” their card or mobile device on a POS (Point-of-Sale) terminal.
Tokenization is the replacement of a consumer’s primary account number (PAN) with a surrogate value called a token.
Digitization is the process of delivering tokenized card details and associated data to a device and/or onto a secure server on the cloud.
MDES is the Mastercard service that offers tokenization and digitization, replacing card numbers with tokens and storing them in digital environments, like here for adding secure payments to consumer devices.