As Use of Digital Wallets Grows with Open Loop, Transport for London and other Agencies being Hit by ‘Retokenization’ Fraud

Digital wallets are fast becoming the preferred method of payments for transit riders using open loop, with some major agencies recording well over half of their open-loop transactions coming from mobile devices, as Mobility Payments reported.

But for at least the past couple of years, agencies have been vexed by a certain type of fraud based on