Results for tag: "Payment Tokenization"

Payment tokenization is a process used in mobile and contactless payments that replaces sensitive payment information with a unique digital identifier, or token. This token is used to represent the original payment information, such as a credit card number, and is used to securely transmit the payment information between the customer and the merchant. Tokenization helps to protect the customer’s payment information from being exposed to fraud or theft. It also helps to reduce the risk of fraud and identity theft by making it more difficult for criminals to access the customer’s payment information. The payment tokenization market is growing rapidly as more businesses adopt mobile and contactless payment solutions. This growth is driven by the increasing demand for secure and convenient payment solutions, as well as the need for businesses to protect their customers’ payment information. Some companies in the payment tokenization market include Apple Pay, Google Pay, Visa Token Service, Mastercard Digital Enablement Service, and Token.io. Show Less Read more