What Payment Tokenization Is and How it Works | UniPay Gateway

What Payment Tokenization Is and How it Works

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If you are somehow related to the payments industry, you may have heard about payment tokenization many times. But do you actually know much about its function and what this payment gateway option is for? The first thing to know about tokenization is that it is a must-have for payments and payment gateways today.

Tokenization serves to protect merchants’ and cardholders’ sensitive data from fraud or data breaches. The process of tokenization replaces all information with a series of algorithmically generated numbers and letters, a.k.a., tokens. Most often, this information is such as a credit card number, address, account number, etc., So, there is no need to invest extra money and resources into credit card data protection – as it is performed through credit card tokenization.

Moreover, payment tokenization services allow merchants to reduce their PCI scope with minimal liabilities and security expenses. They can delegate the storage of sensitive payment card and consumer information to a payment gateway provider.

So that you can better comprehend how merchant onboarding works, we have released a new video detailing this concept. With this video, you can navigate through the merchant onboarding process visually and in great detail.

You’re also invited to check out other videos from our informative series about payments and payment gateway features. Don’t forget to subscribe to our UniPay YouTube channel to stay up-to-date with developments in the payments industry.

What Payment Tokenization Is and How it Works обновлено: February 8, 2021 автором: Michelle Martin
Summary
Payment Tokenization
Article Name
Payment Tokenization
Description
If you are even indirectly related to the payments industry, you should be aware of tokenization and its function as a powerful tool to protect customers’ data from cyberattacks and data breaches.
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UniPay Gateway
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