Tokenization allows customers to securely save their debit or credit card details with an organisation, making future payments a lot quicker and more convenient. The sensitive information is replaced with unique identification symbols, referred to as a ‘token’, which has no exploitable value and can be stored with little risk by an organization. This takes them “out of scope” as the data is only ever stored by the card acquirer.
The Payment Card Industry Data Security Standard (PCI-DSS or PCI DSS) is a set of security standards designed to ensure that all companies that accept, process, store or transmit credit card information maintain a secure environment. We explain everything you need to know about PCI compliance.