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Payment Security - Payment Tokenization

To improve the payment security and consumer confidence, the usual EMV chip and pin verification alone is not enough anymore. To eliminate the chances of payment card frauds, most of the merchants, banks, financial institution and retailers presently stress upon using payment tokenization more than ever.

Tokenization is an alternative data encryption process of substituting sensitive payment card data with a non-sensitive equivalent, known as a "token". The token, which is infeasible to reverse, is used to complete a transaction instead of actual card information, ensuring complete online payment security. More and more merchants are drawn to payment tokenization because it has value beyond the one time transaction cycle. Tokenization can also be used to protect stored customer card data a.k.a. "card on file", a prime target of cyber criminals.

As data protection is a shared responsibility between everyone involved in the payment processing chain, as a merchant you must ensure that your payment service provider is capable of offering you tokenized payment module. Visit www.signetpay.com/payment-tokenization.aspx now to know more about our Tokenization Solutions and be a step ahead in payment security.