NETWORK TOKENIZATION
Reduce fraud and keep cards up-to-date, all in one
NETWORK TOKENIZATION
PCI Booking now offers access to card issuer Network Tokenization as an addition to PCI Booking’s tokenization. Network tokenization is payment card tokenization offered by the card issuers themselves (Visa, Mastercard, American Express). The network token can be stored in PCI Booking, either in parallel with the real card or instead of it.
Similar to standard tokenization, Network tokenization works by storing the card details with the card network and receiving a token to identify the card. A network token is in the format of a credit card and therefore can be used in all functions that require a credit card. Network tokens can be accessed by both the merchant and the processor, without either accessing the real card details. Network tokens can be used with all features in PCI Booking as it is, essentially, a card. As the actual card details are stored with the card network (or brand), the card details are kept up-to-date at all times by the card network.
Why use Network Tokenization?
Reduction in fraud
Network Tokenization’s reduction in the risk of fraud leads to a number of secondary benefits such as higher authorization rates and a decrease in chargebacks (and, in some circumstances, a shift in the liability from the merchant to the card issuer).
Proactively update cards
Expired cards on file can be updated in real time, with the result being that customers experience fewer false declines due to out of date cards. Customers no longer have to ensure that their card details are always kept up to date for fear of being disconnected from services they subscribe to.
How Network Tokenization works
With Orchestra
In Orchestra, generating a Network token is an integral part of our Card Operations functionality.
Simply run the card operations to collect the real card details and then trigger the operation to convert it to a network token. The resulting network token can be either stored in Orchestra, via our tokenization operation or locally by you (network tokens, while resembling card details, are not real cards and therefore are out of scope of PCI compliance)
With PCI Shield
In PCI Shield, there are several tokenization processes – which all lead to a card token being generated in PCI Booking.
Once the token is created, simply send an API request to generate the network token for the card stored in the PCI Booking token. This will result in the network token being stored as a new card token in PCI Booking.
Then just decide what you want to do with the original card token – keep it or delete it, it is completely up to you!
Interested in talking to our team to learn more about using network tokenization?