Merchant Link, a leading payments gateway company, has recently announced that it will be providing end-to-end tokenization for consumers in attempt to reduce the cost of attaining and maintaining payment card industry compliance. Tokenization is also a new method gaining popularity for reducing the chances of credit card debt for the victims of card theft.
Tokenization is a service merchants can provide to encrypt the credit card numbers and personal data belonging to consumers. It is a new preventative measure that companies are taking to make sure information doesn’t fall into the wrong hands in the event of a security breach. Based on the PCI Self-Assessment Guidelines, tokenization reduces PCI scope up to 81 percent.
“The offering demonstrates our ongoing commitment to provide the highest level of security and service in the industry, allowing our customers to get out of the credit card business and focus on their core mission,” said Dan Lane, chief technology officer of Merchant Link.
Data theft is becoming a popular crime not only the United States, but countries around the world. Consumers who take proactive measures to protect themselves are more likely to avoid credit card debt and long-term credit score damage.