Tokenization is a way in which merchants can securely speed up the payment process by storing payment details and replacing them with tokens. This is done by protecting sensitive payment data by replacing it with a randomly generated number called a token. By tokenizing payment details, returning customers do not have to fill in all their payment information. Tokenization as a payment method is used to prevent credit card fraud. The sensitive data is held safely in a secure token vault.
Tokenization is used to protect against payment fraud. By replacing sensitive data with tokens that cannot be reversed engineered, it significantly reduces the risk of Fraud protecting both the merchant and the customer.
Tokenization is a security service that minimizes the risk of data breaches. It converting sensitive payment data, on stored cards, into randomly generated tokens.
Tokenization is used to speed up the payment flow of a transaction being made by a returning customer. Customers who have created a profile can then make purchases without having to refill all their payment information.