We are excited to announce the official release of the card tokenization feature for the Helcim Gateway.
This feature is now available at no additional cost to all Helcim merchants using our payment gateway. Card tokenization has many benefits for every Helcim merchant, and we are proud to help in creating a better, faster customer experience.
How does card tokenization work?
Tokenization is a process of converting your credit card number into a code called a ‘token’. These tokens look something like, ‘FFZP293POW98765’. When a transaction is processed, the Helcim Gateway stores the credit card information and provides you with that alphanumeric token to be stored on your own system. Tokens allow you to store credit cards in a credit card vault, by eliminating the risk of a hacker breaking in, and stealing all the cards.
Imagine that a fraudster gets into the database of credit card numbers. If he had access to the credit card numbers themselves, he could begin to steal money from your account. If he broke into the database only to find credit cards that were stored like the token FFZP293POW98765, then he would not be able to use the code at all.
Why is it Important?
Card tokenization allows you to store cards for future-use without the liability of storing the full credit card number and expiry date locally. In other words, your shopping cart or billing system can act as if it’s storing full credit card numbers, without the added security needed to do so.
The PCI DSS Security Council, the institution that oversees security and fraud prevention in the credit card processing industry has deemed card tokenization as a best practice in credit card processing security.
Give me an example:
Say you wanted to give your customers the ability to “save their credit card number for future purchases”. With our card tokenization, you could store the token as part of your customer’s information database. When they go to make a new purchase, they could select their credit card number from their stored payment options, without having to re-enter any information. Having a saved card on file makes for quicker purchases and faster checkout.