The security of payments matters a lot for an online business.
when it comes to digital payment, you can’t compromise with the security of
client’s data. Customers want to make it sure that their data is secure and
stealing their debit or credit card details is next to impossible. With
tokenization, Bhartipay gives that faith. Moreover, you can also build the
customer’s trust in your brand. Also, with tokenization accepting payment is
easy and secure. The purpose of this article is to provide you information
about tokenization and its benefits.
PCI DSS in
brief
Merchants must
meet the needs of PCI DSS compliance. PCI DSS is a set of security standards
that minimizes the risk of debit and credit card data theft. Also, it maintains
the reputation of a business. Along with this, it provides peace of mind to you
and your clients.
Bhartipay offers safe and
secure payment gateway services in India. Offering payment gateway services to
e-commerce business, small business merchants etc.
Tokenization is a technique used to protect the cardholder’s
payment data from prying eyes. In addition, merchants should never store
payment card data unless required to do so. Going through the reports about the
data security breaches, we can say that the future of tokenization looks bright
ahead.
What is Tokenization?
Tokenization
is a highly secure method of replacing 16-digit credit card number with a
unique code. This unique code is nothing but a token. In tokenization, there is
a random generation of the token. Moreover, it reduces the chances of data
breaches. Before the introduction of tokenization technique, Encryption was
widely used to protect customer’s data. Unlike encryption, Tokenization
does not use a mathematical rule for token creation.
Tokenization Process
1- The
customer enters his or her credit card information.
2-
Tokenization system receives the credit card number.
3- The
tokenization system generates a token.
4- The
tokenization set-up sends the randomly generated token number to your site.
5- Finally,
you can make payments with a token. Now, the cardholder’s data is safe with
tokenization.
Payment
Tokenization Benefits
Tokenization
is a payment security technology that won’t allow thieves and hackers to steal
customer’s credit card data. Our secure payment gateway can decipher the token
code. There are numerous payment tokenization benefits some of the major
benefits are-
·
Reduces the risk of fraud– Every online payment is
associated with the risk of fraud. Controlling fraud is very crucial to build
the customer’s trust in a business. Therefore, it is very important to work in
the direction of providing secure payments and thereby reducing the risk of
fraud. Moreover, merchants can reap the benefit of security.
·
PCI scope Reduction-Tokenization techniques are getting
better day by day. Nowadays merchants can easily become PCI compliant.
Use token data instead of sensitive cardholder data. By doing this, you can
easily put an end to major threats. Reducing PCI scope is not a big deal. The
boom of tokenization is probably due to the fact that you are not really saving
data. This is the best way to simplify PCI scope.
Implementing this young
whippersnapper is cheaper
·
Cost-effective technique–
Tokenization is a crucial part of our comprehensive suite of offerings.
Implementing tokenization is cheaper as compared to encryption. Due to reduced
PCI scope, compliance is a cheap and easy thing. In comparison to encryption, Tokenization
requires less power to compute. Recurring billing helps in saving
administrative costs.
·
lessens the data breach risk– Our
payment gateway services lessen the risk related to a data breach. Furthermore,
we can say that tokenization is a curse for hackers and cyber thieves.
·
Recurring payment transactions- We at
Bhartipay manages and tokenizes all recurring payment transactions.
Tokenization is here to stay and it is a must-have payment gateway
services for merchants. If you are a business person then you
should have a payment gateway provider. If you don’t know how to choose a
payment gateway, we will help you.
Our company is also providing White label services which
very few payment gateway companies are providing in India.
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