Visa’s Digital Authentication Framework (DAF) and Mastercard’s Token Authentication Framework (TAF) are set to transform the payments landscape. Mastercard Maximising Security through Tokenizing Payment CredentialsVisa’s DAF, launched in April 2023, encourages issuer identification and verification (ID&V) and token-to-device binding across token types. Tokenizing Payment CredentialsMastercard’s TAF, expected in 2024, aims to increase security and reduce friction by tokenizing payment credentials and authenticating cardholders. TAF is based on three pillars: issuer authentication during ID&V, token authentication during transactions with multi-factor authentication, and securing transactions with a Digital Secure Remote Payments (DSRP) cryptogram. DAF and TAF mark progress in enhancing the customer experience while ensuring security for merchants and customers.
