Storing payment cards (tokenization) is one of the most widely used solutions offered by AllSecure. AllSecure securely stores the customer’s card data on the merchant’s behalf and in return issues tokens to the customer (in the form of a response containing randomly selected characters). This service encourages purchases because it simplifies and shortens the online payment process. The data the customer enters during their first purchase is tokenized and stored, so the customer does not have to re-enter card details for any subsequent purchase.
What Are the Advantages of a Payment Card Vault?
AllSecure Vault is a payment card data vault compliant with PCI-DSS standards. We replace this securely stored card data with a token that is used for every subsequent purchase, so there is no need to re-enter previously saved data. This has been proven to increase transactions and the number of loyal customers.
How Can Payment Card Data Be Stored Securely?
During the initial payment, the payment card data is registered and saved on our certified systems, and in return the merchant receives tokens that serve as a “substitute” for the sensitive card data that merchants are not allowed to hold. This process is known as “tokenization”. Tokens are generated as a random string of numbers that cannot be converted into card data by anyone who is not authorized to do so.
What Are the Benefits of Payment Card Data Tokenization?
Storing this data enables easier and faster recurring transactions, simplifies the purchasing process, and encourages customers to return to merchants that use this type of technical solution.