Tag Archive for: payments security
https://olspayments.com/wp-content/uploads/2021/05/credit-card-tokenization.jpg 1267 1900 Sumit Varshney https://olspayments.com/wp-content/uploads/2019/08/OLS-Payments-Logo-Blue-Gradient-340px-300x138.png Sumit Varshney2021-05-20 16:00:472021-05-20 16:00:49Payments Tokenization Explained: How It Works and Key Benefits for Merchants
Payments Tokenization Explained: How It Works and Key Benefits for Merchants
According to Nilson Report, credit card fraud losses reached $28.65 billion worldwide in 2019. On top of that, the U.S. is the most card fraud-prone country in the world, accounting for more than a third of the total global loss alone.
To combat credit card fraud, merchants need a foolproof way to make payments secure and protect cardholder data. They need to ensure that the data is never captured or transmitted within the systems in a human-readable format, no matter the payment method.