Merchant Account Tokenization Explained:
What is Tokenization? Tokenization is a data security measure that replaces sensitive card and transaction information with a unique, random number (or “token”) that can be used in place of the real card data. Tokenization allows merchants to store a representation of a card’s information on-site (for tips, recurring billing, etc.) without actually storing the card’s information. The real card information is stored on a secure third-party server that can easily translate a “token” into unencrypted information before sending it to a processing network.
Tokenization removes the burden of data security from merchants, as they are never actually in possession of a cardholder’s information for longer than is necessary to complete the sale. This is compliant with the guidelines established by the Payment Card Industry Data Security Standard, or PCI DSS.
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