How does tokenization make online payments more secure?

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How does tokenization make online payments more secure?

Here's how tokenization makes online payments more secure compared to using your credit card directly:

Data Exposure:

Credit Card: There's a risk that the number, expiration date, and CVV can be exposed to the merchant. This data can be stored insecurely and intercepted during transmission, leading to potential breaches.

Tokenization: It replaces sensitive card data with a random token, and the actual card information is not transmitted or stored, significantly reducing the risk of data exposure.

Randomization:

Credit Card: A credit card number follows a predictable pattern based on the card issuer. Attackers can exploit this predictability and can guess the card numbers.

Tokenization: Tokens are random and have no inherent pattern, which makes it extremely difficult for attackers to guess or reverse-engineer the original data from the token.

Dynamic Tokens:

Credit Card: Unauthorized users can misuse card data for payment transactions because authorization is not required.

Tokenization: Dynamic tokens are valid only for specific transactions or within limited time frames. This prevents unauthorized reuse of intercepted tokens.

Centralized Security:

Credit Card: When merchants manage credit card data directly, it can lead to varying levels of protection that are not up to regulatory standards.

Tokenization: Payment processors or dedicated tokenization services offer centralized security expertise, potentially offering higher levels of protection.

Compliance:

Credit Card: Merchants cannot comply with strict PCI DSS compliance standards when storing actual credit card data

Tokenization: Since actual cardholder data is not stored, it meets the requirements of all compliances.