Card-on-file payment tokenization, with its ability to replace the need to store actual card numbers with tokens that can be restricted to a specific device, merchant, transaction type or domain, offers the potential to both reduce card-not-present fraud and deliver a number of direct advantages to online merchants, Rambus explains in this 12-page paper.
But implementation will not be straightforward. Each payment scheme has its own requirements, specifications and interfaces. Specifications are also updated regularly, requiring merchants to constantly maintain their systems to stay connected to the schemes.
A token gateway enables merchants to bypass these integration challenges, however, as it provides a single software interface to multiple global and local payment schemes and is kept constantly up-to-date with the latest requirements.
In this ebook, Rambus explains how a token gateway works and sets out its benefits in terms of reducing complexity, increasing security, lowering costs, shortening time to market and enhancing the consumer experience.
‘Five Reasons Why Ecommerce Sites Need a Token Gateway’ has been produced and sponsored by Rambus and approved by the NFC World editorial team.
How to access this document
This 12-page document is available free of charge to NFC World Knowledge Centre members (PDF format, 1MB).
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This item is part of What's New in Payments.