Adding a tokenization system in your e-commerce platform helps to protect the confidential information of clients’ cards and facilitates the recurrent purchases and payments, due to the fact that the client must only introduce his card data just one time.
Internet facilitates the development of e-commerce, or online purchases. Online purchases and online payment methods have evolved year after year, to become simpler, more agile and more secure the online payment process.
Card information security and its data protection matter the most to clients and merchants when they are purchasing. The last Security Report of the Q2 of 2014 by Trend Micro, leading company in security, reflects that more than 10 million of registers have been exposed until July 2014, besides, security gaps and ciber-crime attacks have increased during the first half of 2014, mainly against financial, banking and retail.
For this reason, organizations like PCI Security Standard Council are concerned about card data security, developing regulations that companies must apply to storage, manage and work with confidential or sensitive credit card information.
The tokenization system functionalities integrated in an e-commerce platform provide benefits for those companies that want and must apply the PCI DSS normative. Moreover, what is the real meaning of this new term in the electronic commerce industry?
Tokenization or secure vault module is a protection system of the sensitive card data based on the substitution of the confidential data for others, known as tokens, which permits maintain the same operative. The tokenization process consists in encoding the confidential data and assigns for those a token, which is an alphanumeric code that substitutes the sensitive data and later are storage in a centralized way guaranteeing that the device never shows the information and achieve the maximum security in the online payment process.
The advantages of having a tokenization service are:
- Permits to offer high security levels.
- Permits to warm and minimize the risk of theft or card fraud storing in a secure and coded way the confidential data.
- The token created to protect the data permits to make all type of purchases and payments.
- One unique and exclusive token is assigned to each confidential data card. The token protects the card from hacking.
- Accelerate the card payment in recurrent payment purchases and improve the shopping and payment experience. The customers have to introduce his card data only once. In subsequent purchases he only has to confirm the payment with just one click.