Tokenization

What it is

When applied to the payment industry, tokenization is generally used for credit card payments. However, it is also available for debit payment methods, such as iDEAL and SOFORT Banking. Tokenization means that for every credit or debit card, a unique Recurring ID is created and subsequently encrypted as a token. The payment token itself is the unique string of numbers. As result, a …

Tokenization, What it is

The tokenization tool available in the selected plugins ensures that the customer can complete the payment as a one click.

Upon completing the first payment with credit card as payment method, the credit card details are stored as a token. This allows the customer to finalize the next payment by only selecting the stored credit card details.

Tokenization, How it works …