{"id":13016,"date":"2019-01-03T13:41:38","date_gmt":"2019-01-03T12:41:38","guid":{"rendered":"https:\/\/www.intellias.com\/?p=13016"},"modified":"2023-05-22T09:42:45","modified_gmt":"2023-05-22T07:42:45","slug":"payment-tokenization-and-its-impact-on-payment-security","status":"publish","type":"blog","link":"https:\/\/intellias.com\/payment-tokenization-and-its-impact-on-payment-security\/","title":{"rendered":"Payment Tokenization and Its Impact on Payment Security"},"content":{"rendered":"
Until recently, end-to-end encryption was the best defense for security in payment transactions. Designed to scramble user\u2019s credit card details, personal identification and account numbers while purchasing goods, it\u2019s a means of conforming to EMV<\/a> standards to protect against credit card fraud. Though highly effective in most cases, the system is open to vulnerabilities. Several high-profile data breaches<\/a> have been widely publicized, which have driven new security measures to take place.<\/p>\n Payment tokenization accelerates the provision of secure transactions. Data security is of highest importance as consumer adoption of alternative payments such as card-not-present (CNP) and mobile payments grow. Implementing tokenization can be a seamless process, as there is little impact on issuer\u2019s back-end technology, and for merchants, no new hardware or software is needed. This added layer of security complements end-to-end encryption and creates a digital fortress to deter hackers.
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