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Tokenization: Savior or Hidden Menace?
- NavyG 3y agoHow can the network be allowed to still process transactions on you card after expiry? There must be some additional step involved
- zamnos 3y agoThat's a service provided by both MasterCard and Visa where they update the merchant that the card's been updated. https://paymentcloudinc.com/blog/account-updater/ https://paymentcloudinc.com/blog/account-updater/
- nakulkothari 3y agoGiven tokenization is useful for merchants, does it come at an added cost (over & above the usual Stripe charges)? Would the added cost offset the chargeback costs that companies usually face?
- zamnos 3y agoIt exposes you (the merchant) to PCI auditing requirements (which isn't mentioned once in the article‽) far in excess of what you'd get if you just used the vendor (be it Stripe or Adyen or Square or Paypal or whomever your payments process is)'s tokenization. You don't really want that. It's a total distraction and bunch of noise if your core competency isn't payments processing. Doing your own tokenization isn't going to shield you from chargebacks or their costs.
- dharan22 3y agoVISA is incentivizing the adoption of network tokenization by charging 10 Bps higher for Card-not-present transactions NOT using network tokens https://usa.visa.com/content/dam/VCOM/download/merchants/visa-usa-interchange-reimbursement-fees.pdf https://usa.visa.com/content/dam/VCOM/download/merchants/vis...
- zamnos 3y agohttps://webcache.googleusercontent.com/search?q=cache:https://hyperswitch.io/blog/tokenization-savior-or-hidden-menace-clhoooa5u06103uqdidooh3o6 https://webcache.googleusercontent.com/search?q=cache:https:...