Tokenization, where an account number is erased from the transaction in favor of a token stored in a relational database offsite, is quickly becoming a must-have service, especially for merchant processors and acquirers who target the SME segment. For these merchants, relief from expensive and burdensome PCI compliance is a valuable enhanced service. Acculynk is the latest company to introduce one to the market.
“The integration effort for a Java Script based tokenized solution costs less and takes less time for the client to implement than annual PCI compliance,” says John Beisner, SVP for Client Services at Acculynk. “Our merchants can have tokenization plus the lower fraud and chargebacks associated with our secure Internet PIN Debit solution.”
Removing account numbers from the transaction, rather than encrypting the entire data message, is much less invasive and costly means of upping security. For smaller merchants such as those that self-assess their PCI compliance, tokenization offers an affordable means of securing card payment data without a lot of operational overhead. The benefit to providing tokenization services for companies such as Acculynk is that any value-add ties one more knot between the processor and their customer. In a notoriously commoditized and price-driven segment, these additional ties are strategically necessary to better manage attrition and raise revenues.
Click here to read more from Acculynk’s press release.