PARTNER NEWS: “Network tokenization is one of many technologies that online merchants are turning to in a bid to strike the right balance between high security and a frictionless buying experience,” Rambus’ André Stoorvogel explains in an in-depth blog post on the company’s website.
“The question is, how is network tokenization different to existing third-party proprietary tokens?”
“The main (and crucial) difference is that network tokenization ensures that card details are protected throughout the entire transaction lifecycle,” Stoorvogel says in What is Network Tokenization? “Non-network tokens don’t offer this end-to-end security, introducing weaknesses at various points for fraudsters to exploit.
“Network tokenization also introduces improved credential lifecycle management to keep card details current, whereas proprietary tokens do not always have issuer permission to access and manage the underlying account data. Finally, network tokenization opens opportunities for new, enhanced buying experiences across existing and emerging channels.”
“Given the clear benefits, we are already seeing strong momentum for network tokenization for card-on-file transactions,” he adds. “And with EMV Secure Remote Commerce poised to debut in 2019, we can expect to see network tokenization extend to ‘guest checkout’ experiences.”
Readers can read the full article on Rambus’ website.