23 May 2018

BluePay introduces tokenisation for credit card processing

24 June 2009  |  2502 views  |  0 Source: BluePay

Tokenization is the process of using an unrelated string of numbers and/or letters to represent and access securely stored credit card information so that the actual card number does not have to be exchanged between merchants and processors over the Internet.

It is used to securely process stored or recurring billing credit card information.

By using the tokenization process, BluePay goes above and beyond the PCI (Payment Card Industry) requirements. PCI requirements are a set of comprehensive standards for enhancing payment account data security. Developed by the founding payment brands of the PCI Security Standards Council, the PCI requirements were formed to help facilitate the broad adoption of consistent data security measures on a global basis.

As a merchant processing service, BluePay complies with PCI requirements and takes them a step further with tokenization. Merchants don't have to worry about exposure, expenses or risk from storing customers' credit card information. Tokenization provides secure data storage that surpasses PCI requirements.

This process is extremely helpful for many business models, no matter the size of the business. From small business merchant accounts to multi-million dollar companies, tokenization can securely store and process billing data. PCI compliance is absolutely crucial for any merchant or company that electronically accepts, stores or transmits credit card information.

With the growing awareness of the importance of PCI Compliance, merchants are seeking to minimize their risk by offloading their processing to a merchant processing service like BluePay. To meet this need, the BluePay team provides tokenization, in which the merchant never actually processes or accesses the customer's credit card information, but instead processes their account information through an account code.

As a PCI compliant processor, BluePay maintains the data systems and security measures required for PCI compliance, and protects merchants from potential lawsuits due to fraud or compromised credit card information. As a result, businesses can process credit cards and ACH payments with a minimized risk and liability.

"At BluePay, we're always seeking new ways to make the credit card transaction process more secure, which is why we've gone above and beyond to provide more than just the PCI required standards," states Kristen Gramigna, Director of BluePay.

Tokenization not only means safer and more secure credit card transactions for BluePay but for the electronic bill paying industry as a whole. Using paperless, electronic credit card processing accounts has never been more secure.

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