Credit Card Tokenization Service Provider

How to implement a credit card tokenization service?

With credit card tokenization, businesses can generate tokens for future transactions with a merchant. Simultaneously, merchants can de-tokenize sensitive cardholder information to retrieve assisted PAN value. Tokenizing payment cards simplify regular credit card transactions, protecting all parties from intruders, cyber threats, and data breaches.

The major factors of tokenization credit card processing are:

• Lower costs of PCI DSS compliance
• Minimized PCI scope
• Boosted customer conversions
• Enhanced data security
• Faster repeat purchases and sales

Credit card tokens reduce compliance risks, allow businesses to integrate with any third party and merchants, and enable companies to operate with minimal workflow disruptions.

Credit card tokenization example for your environment

Implementing tokenization of credit card data is one of the cyber security measures that help businesses align with industry-specific compliance regulations and protect networks in case of card data breach attacks. Here are real-business examples of how to safeguard the cardholder data environment.

Mobile

Companies can use tokenization solutions to protect payment methods data gathered from users’ mobile applications. Mobile APIs work most efficiently on native Android or IOS apps, yet it supports web-based applications. Mobile API tokenization allows cardholders safely store sensitive data and repeat online purchases, regardless of payment processor and receiving channel.

Call Centers

Call centers deal with customers’ sensitive data on a daily basis using interactive voice response (IVR), point-to-point encryption (P2PE), and dual-tone multifrequency (DTMF) technologies to ingest bank card details. Debit and credit card tokenization service providers integrate with those technologies to secure sensitive data and eliminate personal card information from payment networks and call center environment systems.

Ecommerce

As web stores and online shopping are dominating the retail market, implementing secure payments is a number one goal for businesses and card issuers. Personal bank information revealed during online payment processing is a target for hackers and interested third parties. For the online merchant, it’s essential to provide PCI Compliant transactions. With tokenization solutions, you can enhance the security of E-Commerce checkouts without disturbing customers. With seamless tokenization and transparent getaways, the cardholders’ data is collected alongside organic payment processing.

How can VGS help you with the tokenization of credit card data?

At Very Good Security, we specialize in effective and optimized credit card tokenization solutions for cross-industry businesses. With our cost-effective credit card tokenization service, our team can elevate credit card encryptions and empower your business with a built-in component ready to integrate with any third-party system.

By investing in card tokenization implementation, organizations can protect their systems and networks from intruders, minimize business risks and the possibility of endless lawsuits and stained reputations, and boost customer privacy safety. We understand the headache businesses go through to reach PCI compliance. Therefore, our tokenization solutions are aimed at providing liability storing customers' payment information, removing sensitive data from the cloud security platform to simplify the compliance process, and offering convenient authorization request solutions.

Ready to boost your payment security with top-notch credit card tokenization services and cutting-edge technologies? Reach out to the VSG team for consultation and learn what our team can do to improve your software!

What is credit card tokenization?

In the online payments environment, tokenization implies protecting credit and debit payment cards during transactions by hiding sensitive data. When a user enters the actual credit card number system replaces it with a randomly generated string of characters called a token, reducing the probability of financial fraud and identity theft.

How does credit card tokenization work?

Tokenization credit card provider swaps primary account number (PAN) for an assigned tailored token. Tokenizing works with various card types to provide users with secure payment solutions, no matter the merchant and card issuer. Such a measure enhances card data protection, allowing businesses to store tokenized customer payment information in the internal systems to minimize losses in case of a data breach or cyber-attack.

When is a credit card tokenized?

Tokenization occurs when users provide credit card data for transactions through a secure payment system, such as online or mobile payments. Credit card tokenization provider replaces sensitive payment information, such as the credit card number, with a unique, secure token to represent the information without revealing the actual data.

Which party is exposed to the most financial risk in a tokenized credit card transaction?

Credit card issuers generate the token, used in place of the actual credit card information for payment processing. Therefore, the merchant or the merchant's bank bears the financial risk. The customer is protected by various consumer protections, with little to no risk.

Who benefits from credit card tokenization?

Overall, tokenization is a win-win for both consumers and merchants. Issuers tokenize credit cards to protect customer accounts and enhance online payment security, significantly reducing credit card fraud risk as one of the biggest benefits. Businesses can save resources on other cyber security measures aimed to mitigate the consequences of data breaches by completely removing any personal financial data from their system and hiding it under generated tokens.