Tokenization allows consumers to easily and quickly link their bank card with digital payment services, and can manage and keep their data safe when they pay at physical points of sale or on the Internet. On the other hand, this service also allows for an increase in the number of entities that operate in the payment ecosystem, where all operations are carried out through a single tokenization platform provided by Visa.
The high level of security of this process is guaranteed by experts in the field, who consider the payment tokenization system the best solution available at present to substantially increase security in relation to bank card data.
HOW THE TOKENIZATION OF PAYMENTS WORKS
The service works in a very simple way: a numerical series (that is, a token) is attributed to the information and confidential data of the account. Thus, when a consumer makes a payment through the tokenized payment service, a token is sent to the payment process, thus replacing the confidential data of the account of the cardholder and avoiding any possibility that the data can be used in a manner fraudulent in case it reaches the hands of third parties.
In the case at hand, the tokenized collection represents a new means of collection that rigorously reduces the risk of fraud and that, in turn, improves the productivity of the hotel establishment. Therefore, both the hotel staff and external collaborators will no longer have any contact with the customer’s card data, leaving the hotels exempted from PCI compliance. Another advantage of this new type of payment is the elimination of manual charges through the dataphone thanks to the previous linking of the card in the payment processes.
This collaboration has meant that two leading companies in their respective sectors, such as PaynoPain and Witbooking, join in a project that allows consumers to offer the most advanced security in terms of digital payment processes when booking their stay in some hotel establishment.