In reply to Sean.

I would say that there is something "new" here...payment tokens. The word "tokenization" has been used in many contexts so it's still digesting in the industry, but with EMVCo taking on the standard for payment tokens this introduces the use of dynamic and authenticated requests into the F2F space for mobile devices and online apps. Paying with tokens in apps is absolutely new and is mandated for this year by the payment brands. This will eventually pave the way for a new discussion of authenticated vs. non-authenticated (or levels of authentication assurance) that supplants the current construction of cardholder present vs. cardholder not present.