Glossary

Tokenization

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 the process of protecting sensitive payment data by replacing it with a randomly generated number called a token. Tokenization as a payment method is used to prevent credit card fraud. The sensitive data is held safe in a secure token vault.

Tokenization is used to protect against payment fraud. 

Tokenization uses a randomly generated token to protect the data and stored in a PCI compliant card vault, whereas encryption uses a key. Tokenization cannot be reversed engineered 

Tokenization can be implemented with your payment service provider or with a third party orchestration platform. In order to offer tokenization the provider of orchestration platform most have a PCI compliant card vault

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.

Payments Explained: Tokenization

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