Perspective: Data Security Standards with Tokenization and Encryption
Craig Tieken at First Data presents perspectives on what data encryption and tokenization will mean for payments industry standards. He states data that comprises a token is random; the token can have the same 16-character format as a credit card, which is powerful for merchants as it enables them to use it in back-end databases and business applications without modifying those systems. If you are not able to map the token with the individual cardholder, merchants will lose valuable information such as trends and customer buying behavior.
