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EMV payment tokenization: MONEXT is here to assist you

In this contactless world, e-commerce is constantly increasing its market shares. While the growing number of transactions is good news for merchants, it does, however, raise the question of the need to control risks and the requirements related to this purchasing channel.
Schemes provide one relevant answer with an EMV payment tokenization solution, which has already gone live at Visa and Mastercard.

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Why an EMV payment token?

Made up of 16 digits, the EMV payment token is designed to replace PANs during Card On File enrolments and offers several advantages:

  • Improving your acceptance rate (up to +4% according to Visa)

The scheme generates a one-time use security cryptogram (TAVV) for each transaction; a sign of a certified operation for the issuer who is therefore more likely to trust it.

  • A better shopping experience for your customers

EMV payment tokenization gives you access to additional specific data, such as the issuing bank, the expiry date and a visual image of the card, etc. Thanks to the latter, for example, you can improve your payment UX, by enabling a customer with several registered cards to select the right one very easily, from its appearance.

  • Optimising your attrition rate

The token is automatically updated every time there is a change to the card (expiry, cancellation, etc.), thereby avoiding having to require the cardholder to re-enter their data. With 3%-4% of cards arriving at their expiry date each month, this ensures payments that are always invisible and uninterrupted.

  • Increased security for your customer data

As the EMV payment token is unique for each “customer-merchant” tandem, it is completely useless to another merchant. In addition, actual card data is only known by the scheme.


A winning duo

Despite the close nature of their target uses, the EMV payment token and the MONEXT token offer different and complementary advantages. While the EMV payment token has its share of new advantages, it remains card data which is sensitive in relation to PCI-DSS. The MONEXT token, in addition to doubling the security layer, provides a substantial complement by transferring PCI responsibility to MONEXT.


MONEXT in the starting blocks!

Already certified by Visa, and soon to be launched by Mastercard, MONEXT is ready to assist you with all your EMV payment tokenization projects.


In a hurry to get started? Get in touch with your MONEXT contact!

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