G+D Netcetera manages 1.4 billion tokens
Tokenization is becoming the standard in digital payments. According to Mastercard, three in five e-commerce transactions on its European network are now tokenized. The company has set a goal of achieving 100 percent tokenization in European e-commerce by 2030. Visa manages three times more tokens than physical cards globally and reports that more than 50 percent of its transactions are now tokenized. For card issuers, this shift creates a new operational requirement: they must provision and manage tokens across multiple payment networks throughout the entire token lifecycle.
Fusion Platform, the tokenization platform from G+D Netcetera, the financial software subsidiary of Giesecke+Devrient (G+D), manages more than 1.4 billion payment tokens for banks and card issuers. It handles the provisioning and lifecycle management of tokens across multiple payment networks. This makes G+D Netcetera the operator of one of the most comprehensive cross-network token infrastructures for card issuers in Europe.
The Business Impact of Tokenized Payments
Tokenized transactions achieve higher approval rates and lower fraud rates, according to data published by the major payment networks. For banks and card issuers, this means the quality of their token infrastructure has a direct impact on revenue and fraud costs. Delays or outages in token provisioning immediately affect business performance. The G+D Netcetera Fusion Platform ensures this quality through 24/7 service availability and near-instantaneous transaction processing.
Tokenization as the Foundation for AI-Powered Commerce
The next wave of demand for token infrastructure is emerging from AI-powered commerce. Mastercard has introduced Agent Pay, a framework built on so-called agentic tokens that leverages the network’s existing tokenization infrastructure. Visa Intelligent Commerce combines tokenization with payment credentials, authentication, and spend controls for agentic transactions. American Express released a comparable developer kit in April 2026. All three approaches rely on tokenized payment credentials. As a result, an institution’s token infrastructure determines which new forms of commerce it can offer to its customers.
At the same time, regulatory requirements governing critical payment infrastructure are increasing. DORA has required financial institutions to demonstrate digital operational resilience since January 2025, including oversight of third-party ICT service providers. In April 2026, the Council of the European Union published the final compromise texts for PSD3 and the Payment Services Regulation. For European institutions, this raises the stakes on where and under whose supervision their token infrastructure is operated.
Tokenization used to be a background security measure. Today, it is a prerequisite for participating in digital commerce at all,” says Jukka Yliuntinen, Head of Digital Issuance at G+D Netcetera. “Payment networks are building their frameworks for AI-powered commerce on top of existing tokenization. Institutions that cannot manage tokens across networks and in real time will not be able to support these use cases. For European financial institutions, there is the added requirement that this infrastructure be operated under European supervision. With our platform, we are actively contributing to the development of agent-based payments across multiple networks and enabling straightforward adoption for the entire payments industry.”
