In a tokenized transaction, sensitive data is replaced with non-sensitive data. In the payments industry, tokenization is used to protect the personal financial information of users by replacing it with a unique string of numbers.
Tokenization is a process of replacing the cardholder’s sensitive information with a unique
identifier or token that cannot be mathematically reversed, so the data are passed through
PayCEC payment gateway without the card details being exposed. The actual payment data is
securely stored in data centers which are operated by Visa Inc.
Generally, the last 4 digits of the card will be retained by the token as a means of accurately
matching the token to the payment card owner, enabling the merchant to run its operations
without card data in the business environment.
Tokenization plays a critical role in fortifying online payments and safeguarding a user’s credit card information. Tokenization protects payment data in multiple ways, such as in the safekeeping of sensitive data and cryptographic control, ensuring that an unauthorized party cannot reveal the original PAN (Primary Account Number) associated with a generated token, and more.
In a tokenized transaction, the merchant never touches the customer’s actual payment
details.
Instead, when the customer pays the details are sent to the relevant provider’s Token
Vault,
and returned in the form of a unique “token” identifying the customer to the merchant.
The
next time the customer buys something from the merchant, the same token is used without
the
merchant having responsibility over the customer’s data.
Many types of payment providers can operate a token vault, provided they meet the
required
level of PCI-DSS compliance. PayU is a PCI-DSS Level 1 Certified Processor, allowing us
to
offer merchants a single, cross-platform tokenization solution. Most PayU merchants use
our
tokenization technology to reduce PCI scope and risk.
The customer enters their card details into the payment form.
The customer enters their card details into the payment form.
The customer enters their card details into the payment form.
The customer enters their card details into the payment form.
Using advanced security such as the Tokenization feature can foster customer trust as it keeps customers' payments and other personal data safe, because when data is tokenized, it is devalued, so even if a data breach occurs, the tokens are accessed by cybercriminals won't compromise the original data.
Using tokenization to reduce PCI DSS scope.
Render payment card data making it meaningless to hackers.
Coordinate chargebacks and payments without handling payment data.
Tokenization feature is compatible with your current systems and processor/acquirer.