EddieJayonCrypto
28 Mar 25
The article discusses the projected growth of network tokenization, with revenue expected to reach $9 billion by 2029. It highlights the role of tokenization in addressing credit card fraud and its potential to enhance security and convenience in digital payments. Additionally, the World Bank's comm...
Network tokenization is projected to generate nearly $9 billion in revenue by 2029, with the growth being fueled by click-to-pay, offering faster checkouts for customers. This process involves credit card companies replacing sensitive card information with unique tokens, safeguarding users' details and addressing credit card fraud, which amounted to over $12.5 billion in losses in the United States in 2024. The World Bank has also reinforced its commitment to global digital transformation, emphasizing the need to bridge the digital divide and promote digital IDs to benefit vulnerable populations. Major card companies like Mastercard and Visa are embracing network tokenization, with Mastercard aiming to tokenize 100% of its online transactions in Europe by 2030, and Visa revealing that 30% of its transactions were tokenized in the previous year, saving consumers $650 million that would have otherwise gone to fraudsters.
The World Bank's efforts in fostering digitalization have been highlighted, with a focus on promoting digital IDs and expanding connectivity to ensure that digital transformation benefits the most vulnerable. The agency has invested over $1 billion in initiatives across dozens of countries to achieve this goal. However, it was emphasized that more work needs to be done to bridge the digital gap and bring more people, businesses, and governments into the digital world.