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Today, we can tokenize anything from credit card primary account numbers (PAN) to one-time debit card transactions or socialsecurity numbers. As a merchant, to understand tokenization for your own benefit, it’s critical to understand: What tokenization is, why it’s important for payments, and how it compares to encryption.
Tokenization vs encryptionDataencryption is another popular datasecurity technique where data is transformed into an illegible format. In contrast, tokenization does not depend on keys or encryption algorithms, as random data is mapped to and replaces sensitive data.
Experts recommend a multi-layered security approach that requires human vigilance and tech solutions. Compliance with Industry Standards Your business should comply with industry bare minimums like Payment Card Industry DataSecurity Standard (PCIDSS). Personal information is personal. Stay informed.
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