MasterCard, Visa, and American Express have teamed up to create a new digital payment technology.
The companies say that their proposed standard would increase the security of payments via Web sites and mobile products by using a digital "token." Armed with a token, consumers wouldn't need to input account numbers for purchases.
So far, the companies haven't decided on a token standard, but they expect the industry to accept one before they move forward. From there, upon attempting to purchase a product on the Web or via mobile devices, a customer would be asked to provide … Read more