Signage has grown from limited management to a few experts using specific software to the ultimate key to improving customer satisfaction using Indian payment aggregators. At OnionPay, we are extremely appreciative of these innovative solutions. So, this article will try to explain the concept of tokenization and its basic benefits in relation with India payment aggregator. Let's find out.
What exactly is tokenization?
Tokenization is an extremely secure method for storing data about payment methods, such as credit card information. Eventually, a credit card is inserted into the system and the system generates a token as compensation. The token serves as a signal to remove the card from the system if necessary but is not connected to the actual card. Therefore, the signal does not allow access to the card data without going through the signaling process.
In simpler terms, imagine the signaling process as a book. If your card is given to you, it will be stored on a random page.Alternatively, you will be given the page number to locate the map. Then, when you are ready to use this map, enter the page number and the book will give you the map. Once this procedure is applied, anyone with access to that number cannot access the card without first checking the book.
If we apply this concept to real life and apply it to real life, we can see the benefits. For example, consider a website that sells specific products and offers recurring delivery. When customers buy something on the site, they present their credit card, but to make recurring purchases (such as sending certain cosmetics on the first day of the month, for example), the site must retain the information. to complete a transaction Monthly fee.
Assume that the card information is not stored correctly. In this case, it can be accessed by unauthorized persons or even certain types of criminals, which can cause inconvenience to the customer and a major problem for the merchant. To solve this problem most effectively, we recommend tokenization.
When someone presents his card, the Indian payment aggregator collects the data and forwards them to the signaling system, which sends that signal back to the site to handle the transaction. The website will store the token, together with the information submitted during the registration process.
If the website owner is required to charge the customer a fee in the future, he only needs to pay the authorized amount and token directly to the platform. This platform then sends an authorization to the signaling system that receives the card information and completes the transaction on behalf of the site.
This way, the website does not need to keep the actual card information to process payments, and the payment process will be limited to the exchange with the tokenization platform and its payment system, two components that stand out from its higher levels of security.