Tokenisation replaces sensitive cardholder information with a unique digital identifier called a token. The token allows payments to be processed without exposing actual account details that could potentially be compromised.
The creation of tokens does not significantly impact transaction processing time, meaning there’s virtually no impact on the speed of service at during busy shopping times. It can also be activated retrospectively on stored card details. This simplifies compliance with data security requirements, and also delivers operational, cost and marketing efficiencies.
What are the benefits of Tokenisation?
- Reduce PCI Scope.
- Negate risk from potential cyber threats.
- Offer a user-friendly payment experience.
- Store card data to perform certain tasks, such as matching refunds with sales, reserving accommodation, or releasing pre-booked tickets for collection.
What are the key features of Tokenisation?
- Format preserving tokenisation means you can use legacy business systems that store card numbers (either 16 or 19 digits) without modification.
- Cross-channel tokenisation works for every type of transaction (face-to-face, remote, sales, refunds, pre authorisations etc.), which protects your omni-channel strategy.
- Tokenisation across sub-brands or franchises in a business group helps deliver operational and cost efficiencies.
- Individual transactions or batches of stored card details can be tokenised and protected retrospectively without completing a transaction.
- Compatibility with any front-end business application interfacing to the PXP Financial API makes our tokenisation easy to implement.