With the increased threat of fraud, it is important for merchants to comply with the Payment Card Industry Data Security Standard (PCI DSS). To many merchants, this can be time-consuming and costly, as they store cardholder data on their own systems. Data Vault can help merchants comply with this standard by avoiding storing cardholder data.
Data Vault technology or tokenisation is a form of data substitution, removing a customer’s sensitive card data and replacing it with a unique token. This token can then be stored in the merchant environment, in place of the customer’s primary account number (PAN). This makes it possible for merchants to carry out further transactions, without having to store the customer’s account data. This is ideal for organisations wishing to take payments via eCommerce. For example, merchants will be able to offer their registered customers with the option to purchase goods or services through a one-click payment without storing cardholder data.