Moving forward with real-time payments, The Clearing House has struck a deal with Mastercard to use the company’s tokenization technology.

The deal, announced today, will allow The Clearing House to offer “tokens”— understood as a string of purely digital numbers that replace a physical payment card — on behalf of banks. The solution builds on The Clearing House’s previous work with real-time payments; the company has been compliant with the EMVCo card framework since 2016, among other efforts with tokenization services.

Banks can then use these tokens to support mobile and IoT payments, as well as other real-time transactions.

Read more at Finextra and ATMMarketplace.