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Overview

In the context of payments, tokenization refers to the process of using non-sensitive data (tokens) as an alternative to PAN during a transaction.

Reasons for tokenization:

  • Security: Tokens are less sensitive than PANs. A token links to a particular PAN. It can be easily destroyed and replaced.

  • Convenience: For mobile digital wallets (X-pays), for example, Google Pay or Apple Pay, it is convenient to use tokens to process transactions.

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Tokenization doesn't affect transactions from the Merchant's perspective.

Token life cycle

The following are a few steps in the token life cycle. Below, we'll delve into each one in detail and how Banking.Live handles them

  • Token provisioning
  • Token activation
  • Token expiry
  • Token suspension
  • Token device binding

It's important to notice that the steps above could have either of the following sources or triggers:

  • Scheme (Triggered by X-pay)

    When a customer is setting up their Xpay, starting with token provisioning, these actions are triggered from the scheme, like Mastercard through Xpay, to Banking.Live.

  • From a Paymentology client (Internal operations like Card operations)

    Card operations are also configured to trigger a token life cycle step, like token suspension, once a card is marked inactive, for example.

Creating a token

Token provisioning is the process of making a card's PAN into a token and making the token available for use in transactions. During the provisioning process, this is what happens:

  1. The card's eligibility is confirmed.
  2. The card's contact data is retrieved.
  3. The passcode is sent to the customer for authorization confirmation.
  4. The token is marked.

Tokenization customer service endpoints

Other Tokenization related endpoints

The below endpoints are part of the PaySecure V2 API's, that means that they follow a slightly different API protocol. You can read more on this here.

Mada Pay specific endpoints

Updated 7 months ago