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Visa Inc. gets applauded for its best practices in providing better credit card security, through a technological feature called tokenization, by a leading and pioneering figure in that area.
3Delta Systems, Inc., the pioneer of the CardVault tokenization service and leader in the field of online payment solutions for credit cards, recognized the credit card the issuer’s global industry efforts in preventing the theft and breach of client credit card data. Those that Visa’s tokenization features would benefit includes vendors, merchants, service providers, and banks since their business most need this kind of protection.
Tokenization is a process that takes the purchase information of a client’s credit card and replaces it with “tokens”, which are reference keys that have been randomly generated. This conversion of the 16-digit card numbers into a series of characters that would confound hackers and would prove useless to them in hacking the client’s real code. This is what the CardVault service offers, making sure that clients’ transaction information would be converted into indecipherable codes while the actual information is stored in the off-site data centres of 3Delta Systems.
The CardVault service also has file-based and real-time Level-3 transaction processing features with U.S. acquiring processors, and the service had also earned a large number of Level-3 processing certifications. With its high-tech features, CardVault is well-suited for businesses that make transactions with credit card payments in which it could make use of its telephone-based or web-based customer order systems that generate from 5, 000 to 500, 000 transactions each month.
The credit card issuer’s best practices recommends that merchants and other payment processors make use of this process of tokenization to better protect cardholder information. This way, it would lower the risks, scope, and costs of following to the Payment Card Industry Data Security Standards (PCI DSS) of which are the foremost benchmark of the industry in protecting cardholder information against fraud and breaches.
Since 3Delta Systems have launched the CardVault service last 2003, the company has applied tokenization best practices and its services for payment processing of which it has met the PCI’s top standards for six straight years through a third-party certification.
In a statement, 3Delta Systems chief operating officer and founder Aaron Bills said that they congratulate the credit card issuer Visa for its validating the use of tokenization services and its values in safeguarding the credit card information of clients and cardholders. Bills added that they expect that Visa’s best practices would enable merchants and other service providers to better comply with the PCI Standards of which would lead to the better security of clients’ payment data. Bills also mentioned that he expects that tokenization services like CardVault would be used by more service providers.
