Tokenization replaces the need for merchants or digital wallet operators to store personal account numbers (PANs)
Bell ID Tokenization in Virtual Reality
What is it about?
Tokenization replaces the need for merchants or digital wallet operators to store personal account numbers (PANs). Personal account numbers are protected by replacing them with a unique alternate or dynamic PAN. These tokens can only be used temporarily at a designated channel or merchant; card data obtained from data breaches are therefore useless. It also provides increased control by facilitating card-not-present payments and removing confidential consumer credit card data from the network.
App Store Description
Tokenization replaces the need for merchants or digital wallet operators to store personal account numbers (PANs). Personal account numbers are protected by replacing them with a unique alternate or dynamic PAN. These tokens can only be used temporarily at a designated channel or merchant; card data obtained from data breaches are therefore useless. It also provides increased control by facilitating card-not-present payments and removing confidential consumer credit card data from the network.
This virtual reality app shows you how tokenization works for mobile payments.
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