Bank doesn't issue token ;-) It is payment network (Visa, MasterCard, ...) Visa and MasterCard are NOT ACQUIRERS :-)
@ecarrasco26352 жыл бұрын
Just saw this video 2021, is the payment network completely owned and maintained by visa, mastercard, ..? Thanks for sharing I'm trying to educate myself on the correct terminology
@mariatravnitskaya23752 жыл бұрын
Hi Miloš, could you answer, is it the shop's (provider's) bank who's the aquirer?
@marjkamil2 жыл бұрын
Acquirer is the processor
@Carlyuuazhb267 Жыл бұрын
after watching many videos about tokenization, they were talking about this topic differently, eg., who is the token generator, Bank, Visa, or Google Pay? who keeps our raw credit card data, Bank, Visa, or Google Pay? what data does google pay keep about our credit card, just a token or also encrypted credit card number?
@Carlyuuazhb267 Жыл бұрын
Hi @Milos, i think this video explains it very clearly but slightly wrong, if we change the Bank to Visa, change the arrow to point to Google instead of Acquirer, then Google validate the token with Visa, all should be good?
@ecarrasco26352 жыл бұрын
I really loved this 🔥 thanks for your creative touch too, made learning the topic enjoyable
@damejelyas6 жыл бұрын
make video speed 1.5 you won't regret it !
@StrokeToSail6 жыл бұрын
Good explanation of tokenization but 8 minutes of "creative effort" to describe a 2-minute thought! ugh
@GNarcis4 жыл бұрын
You're basically giving the information to Google, who will then charge advertisers extra to get your information. It's basically replacing one evil for another. So tokenization is a fancy word for giving your data to someone else.
@carlxy9454 жыл бұрын
this is where Blockchain comes in to remove middle men like apple or google
@Donnie_Khan Жыл бұрын
One of the best explaination of Tokenization on the net. Good Job, hope to see more payment related videos i the future. Cheers
@icekermit5 жыл бұрын
Very good and succinct explanation of tokenization!
@coreyword8 ай бұрын
This was a very good explanation and effective use case scenario. Thank you and great job.
@onthegocode1443 Жыл бұрын
Dude, you explained it so well thank you!
@HenrideNavacelle4 жыл бұрын
Thank you for the video! :-) . is the token # different each time you use Android pay?
@hajres93 Жыл бұрын
That was easy and simple, thank you.
@giridharkumar19993 ай бұрын
Thanks for simple & clear explanation !!
@JubinMal3 жыл бұрын
great combination of everything!!
@azwarinaazman11 ай бұрын
Thank you for the easy explaination!
@monstermadzune4563Ай бұрын
hi Brendan, warm greetings from Kazakhstan. Thank you for this video and explanations, very useful material and information.
@shayshay82952 жыл бұрын
Great video, thanks!
@siyawat4 жыл бұрын
Amazing information. Many Thanks
@geraldodom55664 жыл бұрын
Everyone seems to understand it, but I haven't a clue. You move toO fast, and the music makes me want to go straight up!!
@rodcmont Жыл бұрын
this video is crazy, dude. funny and helpful. nice.
@husainghuloom8040 Жыл бұрын
Wonderful explanation, really simple and clear. Although all we have done is instead of giving this data to the merchants, we are giving this data to Google and Apple. Need technology to make the middle man obsolete .. merchant or android or apple .. they all need to go.
@Kameron-The-Crafter Жыл бұрын
Can't servers are needed and there very pricy to run.
@taylorbumbum Жыл бұрын
This video could use an update. But a lot of online merchants do create tokens to process payments directly like Uber, skip the dishes, Amazon. Those merchants create a token and directly charge the financial institution. It goes amazon > financial institution Not amazon > Apple Pay> financial institution.
@qwertyasdfg77824 ай бұрын
dude you are simply saying use blockchain/crypto currency 😅
@hashamniazi34022 жыл бұрын
Wow You're explaining in well form, admireable
@jajack9537 Жыл бұрын
Cool beats..great video
@TecraCoin3 жыл бұрын
Thank you! now you can use tokens for investing in startups
@jsotomayorgray11 ай бұрын
Brendan, this is fantastic. Thanks for sharing your knowledge in such a understandable format.
@ThaiyaWaronja7 жыл бұрын
very well explained...forget about those who come to listen to the music as if this was a music video !!
@alphalax77472 жыл бұрын
Its a good song tho
@mrtu45098 ай бұрын
Thank Brendan, the best video of payment explanation 🎉
@aravindgovindaraj Жыл бұрын
simple and easy... Thanks mate
@emperor33553 ай бұрын
Thank you for this video, it has really help alot, but i want to know, if my phone is stolen, will the thief be able to use my phone and pay for random stuff in a store? or those it have a password of its own?
@laszlozahoranszky21266 жыл бұрын
Hey, thanks for this! I would love to hear about the details of the token. Because the merchant sees the token. So how come that is not something that we need to worry about?
@mariatravnitskaya23752 жыл бұрын
It's been 3 yrs so idk if that's still relevant, but for all the rest who're wondering... the merchant can't decipher the token since they have no access to the DB where the tokens are matched with the original values
@tonymp2 жыл бұрын
It's more complex than what was shared in the video, but generally the app used to pay shares the token PLUS a transaction credential with Mastercard/Visa. The token can only be used with a transaction credential and the credential is only valid once. A token by itself is worthless
@raunaq19846 жыл бұрын
Thanks Brendon , beautifully explained .
@StudyNotesandTheory5 жыл бұрын
Great job Brendan! This was thoroughly explained and entertaining!
@jacobpalatino11136 жыл бұрын
Now the merchant doesn´t know that sensitive information about you. Google & Apple do... wonderful
@carlxy9454 жыл бұрын
@Caz L Orrell exactly,, tokens like XRP and XLM will solve this issue without any privacy issues....
@Chris-sz9hz2 жыл бұрын
Was thinking the same, not sure how it's better for the customer but more data for big tech
@carcamp54515 ай бұрын
Amzing job 🎉
@galileoprotocol.official4 ай бұрын
Great explanation! Your video is fantastic! If given a possibility for interview, would you be up for it? 🙌
@spartan1874 жыл бұрын
Master card and visa primary role is schemes and issuing BIN, and rarely they are in to acquiring bussiness usually this is done by banks or payment processors .
@jesuscanales560610 ай бұрын
Excellent video.
@advaithg93785 жыл бұрын
Great effort. Thank you so much. You cleared all my doubts.
@lemikanadeola7442 Жыл бұрын
thanks for the explanation, every other video keeps me confused.... you just answered my question......😊
@jodybuchanan82694 жыл бұрын
Interesting Concept
@qh33764 жыл бұрын
Am I the only one who actually enjoys the music?? Creative and informative video!
@shahbazjmd7554 Жыл бұрын
Nice information ☺️
@hardwaybets Жыл бұрын
Brilliant!
@kfletch43443 жыл бұрын
Awesome Video:}
@danjohnson7289 Жыл бұрын
This is the best video on tokenisation ever created
@shareapps32486 жыл бұрын
no me i liked the music , seriously what its name , where can i find it please ?
@PrashantSingh-ne5hf8 жыл бұрын
thank you so much (y)
@abhisawant94683 жыл бұрын
Thanks A Lot ..... easily explained
@pyr8dude7813 жыл бұрын
You have to be tokin' something to eat at McDonalds. 😂
@kaur89636 жыл бұрын
Good.. I got a quick Idea..👍..
@abdullahnsy6 жыл бұрын
My card has NFC function. Is it same to mobile app?
@robh.52426 жыл бұрын
great explanation and video! Thank you, Brendan.
@Ajay-qu4il Жыл бұрын
That was awesome explanation. Thank you brother
@gazart855727 күн бұрын
Shoert and sweet. Love it
@desislavpetrov2201 Жыл бұрын
genius explanation
@ASMX_Group6 ай бұрын
Excellent explanation
@JerryLi8 жыл бұрын
For a second it looks as if you are writing on the back of a macbook :D
@royvaneck74138 жыл бұрын
Cool movie, background music in the beginning is a total overkill
@lakai9446 жыл бұрын
Is that all there is to tokenization??? It does sound more secure, but....1. I really don't care if best buy has my account info. They are not going to ruin their credentials by stealing money and if someone hacks them...well shit happens (Very unlikely) 2. You still need to give your account info to Google. So if someone hacks your Google account you're kind of screwed, which feels very unsecure.
@la670 Жыл бұрын
Thank you!!
@redi08 Жыл бұрын
Issuing bank does not issue token Bank does not keep any token Instead token is hosted by payment network like VTS for Visa Visa and MC are not Acquirers Acquirers can be bank or any processor
@WaranaSJ2 ай бұрын
6:58, plate numer now public
@fabianbraesemann50795 жыл бұрын
The music makes it hard to understand anything
@faisalmohamed91213 жыл бұрын
Simply put its a process of converting Fixed PAN to Dynamic PAN
@luciferangelica6 жыл бұрын
what's the point? it can be traced back to the account by the merchant or bank or whatever, how does this change anything? your company gets a cut?
@Someniatko5 жыл бұрын
The merchant will not be able to recover your data based on the token. Only bank can.
@lex879910 ай бұрын
Thank you so so much
@cassondrad22808 жыл бұрын
Well explained. Totally understand, thank you. Clear and concise
@saviour21442 жыл бұрын
'ACQUIRER"....but great pres!
@hapcleaner57342 жыл бұрын
thanks
@movingman073 жыл бұрын
Is this the reason why companies want to have there own mobile payment solutions so they can acquire the data for themselves.
@jesusm46563 жыл бұрын
Great video on explaining Tokenization. You should check out #ZAP and dig deep in their project. You’re able to tokenize businesses, Real estate etc
@bancambios5 ай бұрын
Well done
@paulbell82794 жыл бұрын
Is this the same as the service provided by FinNexus. Can anyone explain me in Detail? Thank You.
@frustin3 жыл бұрын
Granted the video is 6 years old now, but be warned, there are a lot of language inaccuracies in this video which are very misleading e.g. definition of acquirer, it is not mastercard/visa, and the token is not issued by the "bank"
@yourtube5405 ай бұрын
This doesn't seem more secure and involves more parties for a transaction that occurs between a buyer and seller.
@sanyamjaincs12 жыл бұрын
nice video
@businesswealthstory2 жыл бұрын
You should update this video with Web3.0 technologies.
@beeaar2152 Жыл бұрын
Greetings Brendan, You just understand that a Bank does not issue Tokens ... thats a job for TPS !! With a little more research you can ace making such informative videos. Best of Luck !!
@BLESSED15919 ай бұрын
Agreed. That’s ach still. Tokenizing is when we take real world assets and place them on the blockchain. Not sure if I left the video to early but I think we where just explained how mobile payments get settled.
@Throwbacklifestyle3 жыл бұрын
Wow tq
@IsJakeFromState10 ай бұрын
Good vid still relevant
@pernilsson23943 жыл бұрын
So instead of giving my local hardware store my PAN i give it to Google? And how is this better?
@jedisentinel48793 жыл бұрын
Big Tech are merely the first ones to implement this, more and more tokenization companies are being born every year
@kristen32403 жыл бұрын
google is considered more trustworthy; the payment device at merchant is not as reputative as google. Therefore, handing the info to google more secure. I guess it is the principle...
@h1vuc1s4 жыл бұрын
Good job with the explanation, but the part after 5:32 was completely unnecessary.
@pawansamyak Жыл бұрын
The noise behind the video is irritating pls reduce the base next time thankyou
@spiralni3 жыл бұрын
well thanks... btw that hand is kind of creepy
@tylerbarley70422 жыл бұрын
The music is horrible. I had to choose another video
@mandeluh2 жыл бұрын
I thought the point of all this new tech is to eliminate intermediaries
@sonias58435 жыл бұрын
So, the solution is to share private data with google rather than merchants?
@Frothling3 жыл бұрын
I dont think VISA/Mastercard are acquirers... Acquirers are the merchant's bank?
@arjunts87123 жыл бұрын
wow someone really likes drawing
@ajghamdi71884 жыл бұрын
Music was a distraction :(. The last part also was not necessary.
@bionicwoman98845 жыл бұрын
Samsung pay is good too
@BoeyChar4 жыл бұрын
whats the bg sound for? ridiculous
@williambarahona61165 жыл бұрын
Todo parece correcto en la explicación excepto por un punto muy importante el PAN nunca viaja en ninguna transacción y esto en su presentación esta mal lo único que viaja es un TOKEN por favor ajustar su presentación para no confundir. Gracias.
@myoutubecom-gg7sb4 жыл бұрын
Cashless digital mobile payment system is the future
@natorverinumbe65115 жыл бұрын
Enjoyed it but the last part was wack!
@dalurinzinia8295 жыл бұрын
But doesnt that mean google knows all our personal info relating to our payment card??
@TebogoMotlhale5 жыл бұрын
passing the buck from Peter to Paul, yeah . . . now you're sending my sensitive private information to Google while assuring me that I am secure because it is No longer being "seen" by the merchant, now we have another internet-search-engine guy in the middle who acts as the TRUSTED intermediary to carry and pass around billions of people's "banking" information and become the weakest link and the biggest SINGLE TARGET for Chinese/Czech republic hackers ! On that fateful DAY when Chinese and Czech republic hackers finally sniff a billion credit card details from Google/Apple and threaten to leak/dump ALL of that information on torrent sites, that will be doomsday for EVERYONE !
@danieltosta7695 ай бұрын
So even more power for Google, great!
@strcelrau3 жыл бұрын
Cut that music down to make this watchable
@alexlucas91852 жыл бұрын
I’m here because of Charlie
@stansuen80724 жыл бұрын
Don't mind a bit of entertainment but this is trying too hard to a target group of technical people. I do appreciate the explanation of tokenization.