Bringing the Benefits of Network Tokenization to Online Transactions
Token Gateway serves as a single interface to multiple network tokenization services to request EMV payment card tokens. As a scheme-certified solution, Token gateway enables token requestors, such as merchants and payment service providers (PSPs), to shorten their time to market, reduce cost due to limited PCI compliancy requirements and avoid manual updates when tokenization specifications get updated. Token Gateway supports tokens both for digital wallets (host card emulation) and e-commerce (card-not-present).
Unlike PCI tokenization where payment card data is only tokenized in the database, EMV tokenization uses tokens throughout the transaction network and therefore poses less fraud risk. EMV tokens also keep card information up to date when cards get stolen or expired, meaning that consumers no longer need to update their card details manually.
By providing EMV network tokenization for ecommerce transactions, Payment Service Providers (PSPs) and merchants are able to improve the level of trust and reduce the number of false declines, resulting in higher transaction approval rates, customer conversions and ultimately increased revenue for merchants.