The technology with the use of tokens guarantees security payments without using the card number.
In order to attract online stores into its acquiring network, the Bank must provide secure card payments. According to the requirements of international payment systems merchants, who can save details of the payment cards are required to undergo PCI DSS audit.
How it works
UPC has developed a service that saves the card number in UPC systems and on the merchant’s side is reflected in the form of tokens. Thus, the card data will not be compromised.
The customer enters his / her payment card details during the first purchase. After successful payment with full card details, it will be assigned a token and sent to the store in the appropriate message.
Further payments can be initiated by the seller using the token without re-entering the card details.
To activate Tokenization service, the merchant should send a request to firstname.lastname@example.org and indicate Merchant_id. The Merchant should also notify Acquirer bank about such request.
The Acquirer bank sends the limit with the threshold amounts (concerning currencies used by the bank), in case the limit is exceeded, the request should contain CVC (of the card for which the token wascreated). The Acquirer bank can set individual limits with the threshold amounts for the merchants.
The acquiring Bank sends a limit with threshold amounts (relative to the currencies used by the Bank), in case of exceeding the limit, the request must contain CVC (cards for which the token was created). The acquiring Bank can set individual limits with threshold amounts for traders.
By providing secure e-Commerce solutions, the Bank will be able to build long-term partnerships with existing merchants as well as attract new online stores into its acquiring network.