IDEMIA Secure Transactions Breaks Down Borders for Payment Networks and Digital Wallets Worldwide - DEVICENEXT

IDEMIA Secure Transactions (IST) has unveiled a new Scheme Interoperability solution designed to streamline cross-border payments through a secure token exchange model. Inspired by telecom roaming mechanisms, the technology allows users to pay abroad using their preferred domestic payment method with the same ease as local transactions. This innovation targets the challenges faced by domestic payment schemes and regional digital wallets that struggle with fragmented infrastructure outside their home markets. By mapping a user’s home payment credential to a local equivalent, the solution ensures seamless acceptance across different networks followed by cross-border interbank settlement. With over 500 million device tokens provisioned globally and connections to approximately 30 payment networks, IST positions itself as an ecosystem enabler rather than just a platform provider. The approach removes the need to educate consumers on differing foreign payment habits and offers an alternative to co-badged cards within specific ecosystems. Strategically, the initiative responds to the growing priority of strengthening payment sovereignty across various regions. It enables domestic networks to collaborate and scale together without relying solely on international infrastructures, creating a more balanced global payment landscape. Anastasia Serikova, EVP Digital Payment Solutions at IDEMIA Secure Transactions, noted that the solution tackles fragmented acceptance by enabling domestic schemes and digital wallets to extend beyond their borders.