Protect Payments - Boost Profits
Total Dispute Management
Your Success Is Our Focus
Join us and industry experts to share new ideas, innovation and some fun at these great events.
Search our resource library for the information you need to help your business succeed.
Helpful resources, thought leadership, articles, white papers and chargeback briefs.
Get the FAQs Here!
Frequently asked questions answered by our team of experts.
Interested in joining a team of talented individuals in a dynamic and high growth industry? View or apply to opportunities.
Verifi is a leader in global payments protection. We are extraordinary, passionate, and out-of-the-box thinkers who love to have fun and solve new challenges every day in the world of payments.
Get in touch
"We founded the company with one basic premise - to help our clients protect their payments and boost their profits."
—Matthew Katz, CEO and Founder
Prevent and resolve costly chargebacks, increase your billings, build brand loyalty, and process your payments end-to-end with secure and easy-to-use technology.
Keep up to date with all our latest news and enhancements to our award winning suite of services to help your business maximize its payments and reduce risks.
Your Partner in Success
Trusted by emerging companies to the Fortune 500, Verifi works with a wide range of industries, including top omni-channel and e-commerce merchants to maximize payment yield across the entire transaction lifecycle.
Tokenization is a security measure that replaces sensitive account and card information with a non-sensitive token or placeholder. This token is then used as an identifier during the payment process. The token can only be traced back to the original account or card data with a master key as a part of the tokenization system.
What is PAN and how is it connected to tokenization?
A PAN, or personal account number, is the 14, 15 or 16-digit number displayed on the primary account holder’s credit card. Typically, this number is simply referred to as the account number, but for technical terms it’s called the PAN.
This set of numbers is created using the following system:
Some credit card companies, such as Visa, ask merchants to take extra steps to protect customer credit card data. Visa instructs merchants to avoid storing the full account number, with the aim of preventing fraudulent activity should there be a data or security breach. In the U.S., the Fair and Accurate Credit Transactions Act prohibits merchants from printing more than the last five digits of a customer’s credit card number and the card expiration date on a receipt.
The token that is used for secure payment communication masks the PAN and replaces it with non-sensitive data that cannot be traced back to the PAN or cardholder details.
What is the PCI Data Security Standard?
The Payment Card Industry Data Security Standard (PCI DSS) is a set of security standards designed to ensure that all companies that accept, process, store, or transmit credit card information maintain a secure environment.
The PCI Security Standards Council (PCI SSC) was launched on September 7, 2006 to manage the evolution of the Payment Card Industry security standards with a focus on improving payment account security throughout the transaction process.
The PCI SSC was created by the major credit card companies (Visa, MasterCard, American Express, Discover, and JCB) to manage the PCI DSS. The PCI DSS applies to any organization that transmits or stores cardholder data.
How and where is tokenization used?
Because the main goal of tokenization is to secure and protect cardholder data, these tokens are created by a Token Service and then issued to your customer’s device by the Token Issuance process. This keeps the entire tokenization process secure and impossible to reverse engineer.
There are three common scenarios in which tokenization is used to secure cardholder data:
If you have ever tapped your Apple watch on a payment terminal screen to pay for your purchase, you have used tokenization to communicate and secure your cardholder data.
Where can I learn more about tokenization?
We suggest you first read the documentation provided to you by your credit card companies and your acquirers.
Next, download our tokenization whitepaper and read more about how you can protect your data and brand reputation.
Do contact us to discuss how you can ensure you’re using a multilayered fraud protection approach that complies with the PCI DSS.
Call (323) 655-5789 or complete the form below