Tokenization (secure card storage)
In the payments industry, Tokenization is defined as ‘the concept of using a non-sensitive piece of data (the token) to represent a set of sensitive payment card data pieces typically including the card account number and expiry date.
Tokenization has become a popular means of bolstering the security of electronic transactions while minimizing the complexity of compliance with PCI DSS standards for merchants. With Caledon’s solution, all sensitive payment card related data is stored securely within our virtual vault. When a merchant has the need to process a payment on a card account that is stored, they simply pass us the unique token associated with that card number through any of our many tokenization-enabled products. The idea here is that if a fraudster were able to intercept a payment transaction between a merchant and Caledon, all they would get would be a useless token.
Going even further, our Tokenization solution eliminates the need for a merchant to store a customer’s card account data on their servers for the purpose of recurring billing. This creates a significant decrease in a merchants PCI compliance liability since they no longer have to store this very sensitive data. This decrease in PCI compliance liability also translates into a financial savings when it comes time for a merchant's annual PCI audit. Tokenization may even lead to a downgraded and much simpler set of security standards a merchant must comply with to receive their annual AOC (Attestation of Compliance).
Tokenization is available through Caledon’s Virtual Terminal, Web Integration API, Batch Processing, Recurring Billing and Hosted Payment Page solutions. Contact us today to discuss your many options and how we can customize any of these to suit the unique requirements of your business.
Tokenization has become a popular means of bolstering the security of electronic transactions while minimizing the complexity of compliance with PCI DSS standards for merchants. With Caledon’s solution, all sensitive payment card related data is stored securely within our virtual vault. When a merchant has the need to process a payment on a card account that is stored, they simply pass us the unique token associated with that card number through any of our many tokenization-enabled products. The idea here is that if a fraudster were able to intercept a payment transaction between a merchant and Caledon, all they would get would be a useless token.
Going even further, our Tokenization solution eliminates the need for a merchant to store a customer’s card account data on their servers for the purpose of recurring billing. This creates a significant decrease in a merchants PCI compliance liability since they no longer have to store this very sensitive data. This decrease in PCI compliance liability also translates into a financial savings when it comes time for a merchant's annual PCI audit. Tokenization may even lead to a downgraded and much simpler set of security standards a merchant must comply with to receive their annual AOC (Attestation of Compliance).
Tokenization is available through Caledon’s Virtual Terminal, Web Integration API, Batch Processing, Recurring Billing and Hosted Payment Page solutions. Contact us today to discuss your many options and how we can customize any of these to suit the unique requirements of your business.
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Page last updated on 03/29/2011
