Powerful payment outcomes from an agnostic provider
Decrease fraud-related declines and chargebacks by an average of 26%
Reduce risk to increase approval rates by an average of 2% and lower interchange rates by 10 basis points
Access card details, such as issuer and card art, without needing to reveal the PAN
Automatically update account details when new card information is issued to seamlessly support recurring transactions
As card-not-present transactions continue to grow in popularity and profitability, fraud has increased alongside it. To combat this rise in credit card theft and fraudulent transactions, certain issuers have begun offering network tokens that reduce risk and enhance the customer experience throughout the payments process.
TokenEx can now provide clients with network tokens for participating card issuers in addition to TokenEx tokens. This requires no extra work on behalf of the client and can deliver significant revenue-impacting benefits in instances where network tokens can be used.
Network tokenization replaces sensitive cardholder data with a token issued by the card brand. When implemented properly, it reduces risk by removing the need for merchants or third-party providers to expose themselves to the risk of handling raw card details at any point in the payment process.
Similar to standard provider tokenization, network tokenization works by exchanging sensitive cardholder data such as the PAN for a nonsensitive placeholder that offers the same functionality of the original data without the associated risk.
The primary difference is that the network tokens are issued by the card brands themselves, which means the tokens can be used at each step of the payments process and can be updated with new card details without requiring another token to be created.
On average, transactions that use a network token in place of a raw PAN result in a more than 2 percent increase in authorization rates.
Although network tokenization can be extremely valuable, it is not supported by all issuers and can only be used with credit card data. When it’s unavailable or you need to tokenize other data sets in addition to cardholder information, you can still meet your data protection needs with more robust provider tokenization from TokenEx.
Yes, but working directly with a card network requires you to handle raw cardholder data, which increases risk and PCI scope. You also would need to work separately with each of the card brands to receive network tokens for their cardholders. By instead working with a single agnostic provider like TokenEx, you can use our full suite of scope-reducing technologies to prevent raw card data from ever entering your systems. TokenEx can also tokenize PII and other data types in addition to cardholder data.
A guide to understanding network tokens
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What is a trid?
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Visa: Lower Interchange Fees for Transactions Leveraging Network Tokens
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PRESS RELEASE
Network Tokens
Product Page
Product Demo
VIDEO
NETWORK TOKENIZATION GUIDE
API DOCS
NETWORK TOKENIZATION API
API DOCS
Use Network Token Function IN TGAPI
API DOCS
