EN 
Tokenization is key to transaction security by replacing real banking data with tokens or digital tokens, minimizing the risk of exposure of confidential information in the event of security breaches. In addition, these tokens facilitate interoperability between different payment systems, streamlining transactions and improving customer experience. This service is compatible with various platforms and applications, including popular names such as Apple Pay, Google Pay, Samsung Pay, Click To Pay, Netflix, Spotify and Amazon.
It is essential to have a vendor certified by the brands as a token requester (or Token Requestor) to make use of this service. It can be used by online commerce, payment applications or any entity that needs tokens to process transactions. The Token Requestor solicits and uses the tokens issued by the brands to carry out secure and seamless payments.
“This translates into a number of significant benefits, such as reducing the risk of fraud in token-authenticated transactions, eliminating unnecessary costs by avoiding the use of the Primary Account Number (PAN), and keeping customers’ card information up-to-date for proactive maintenance on payment media, increasing the approval rate. The combination of tokenization with 3DS authentication also allows shifting liability in case of unauthorized charges”
Johan Arango, Sr. Product Manager, Evertec Colombia
In short, tokenization stands as an essential pillar in the digital payments’ revolution, bringing security and efficiency to online and mobile transactions. As fintechs and experienced companies leverage this technology, the benefits extend to users and commerce, ensuring a more secure and convenient payment experience in today’s changing financial landscape.
