As digital transactions become the norm, the need for robust security measures in payment processing is paramount. Altron FinTech ACS, using the digital card and iTSP solutions offered through Entrust, provides banks and financial institutions with digital card and tokenisation solutions that seamlessly integrate into their existing payment and banking systems. This approach ensures that transactions are secure and customer data is protected, positioning Altron FinTech ACS at the forefront of payment security technology.
How does card payment tokenisation work?
Token generation – When a customer initiates a transaction, their card information is sent to the Altron FinTech ACS tokenisation system. This system generates a unique token to replace the card's primary account number (PAN).
Token storage – The original card information is securely stored within Altron FinTech ACS's robust and compliant tokenisation system. The token is then used for the transaction instead of the actual card details.
Transaction processing – The token, rather than the card's PAN, is used to process the payment. If the token is intercepted during the transaction, it is useless to fraudsters due to its unique and context-specific nature.
Token mapping – If the original card information is needed for any reason, the Altron FinTech ACS tokenisation system securely maps the token back to the PAN, ensuring that sensitive data is never exposed during the transaction process.
Benefits of card payment tokenisation
Altron FinTech ACS's tokenisation significantly reduces the risk of card information being compromised during a data breach, as tokens are worthless outside their specific transaction context. By using tokens instead of actual card details, businesses can reduce their Payment Card Industry Data Security Standard (PCI DSS) compliance scope, as sensitive data is not stored or processed by the business but by Altron FinTech.
Customers are also more likely to trust businesses that use Altron FinTech ACS's robust security measures to protect their card information. ACS's tokenisation can be used across various payment channels, including online, in-app and in-store transactions, providing consistent security regardless of the transaction type.
Entrust iTSP integration
Tokenisation using a token service provider (TSP) is a process in which sensitive data, such as credit card numbers, is replaced with a unique identifier or token. This method ensures that actual sensitive data is stored securely and is not exposed or visible during the online payment and purchasing process, reducing the risk associated with potential fraud or breaches. Tokenisation protects submitted data through secure APIs when submitted to the TSP. When data is received, the TSP generates a unique token that replaces the sensitive data, which is useless and without meaning if intercepted.
Altron FinTech ACS, using the Entrust iTSP solution, securely stores the mapping between the sensitive data and the token, typically in a secure database that complies with industry standards and regulations. Tokens can be used instead of sensitive data in all subsequent transactions and operations, such as payment processing. In the event the original sensitive data is needed, such as for refunds or settlements, the token can be submitted back to the TSP, which will return the original data after proper authentication and authorisation.
Advantages of tokenisation
- Tokenisation supports organisations in complying with regulations such as PCI DSS by minimising the storage of sensitive or risky data.
- Reduces the potential risk of data breaches by ensuring that no sensitive data elements are stored or transmitted in their original form.
- Tokens can be stored and processed like any other data, simplifying data management and reducing the scope and requirements of compliance audits.
Choosing a token service provider
Altron FinTech ACS, in collaboration with Entrust, provides unparalleled card payment tokenisation solutions designed to ensure maximum security and efficiency. Utilising strong encryption and secure storage mechanisms, Altron FinTech ACS safeguards sensitive data against potential breaches. Our token service provider (TSP) solutions comply with all relevant regulations and standards, including Mastercard and Visa certifications, ensuring robust regulatory compliance. With the capability to handle high transaction volumes with minimal latency, our TSP solution guarantees high performance. Furthermore, the Altron FinTech ACS TSP solution seamlessly integrates into existing financial institution systems and workflows, facilitating easy adoption. By leveraging Altron FinTech ACS's advanced tokenisation technology, financial institutions can significantly enhance data security, reduce compliance burdens and improve overall data management practices, thereby offering customers a secure and trustworthy payment experience.
Learn more about Altron FinTech ACS and our robust card payment tokenisation systems.
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