Tokenization Explained: Understanding Digital Payments With Chargent

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Күн бұрын

✅Tokenization is essential for Salesforce administrators and consultants to understand to maintain compliance and process digital payments safely. Below is a checklist that will get you started on a path to a self-serve payment option for your customers, lowering payment processing fees, and increased productivity. All of this is done while simultaneously increasing your customer’s information security and reducing your risk of liability for breaches.
Learn more about Salesforce Payments and get the checklist - "10 Ways To Make Salesforce Payments Safe, Easy And Profitable:”
⏭️ chrgnt.co/Salesforce-Payments...
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🏆 THE GOAL: Many people might be wondering what tokenization means in digital payment processing. In today’s video, we are going to provide a simple explanation of what tokenization is, and how it can help your organization avoid a multi-million dollar breach or loss of consumer trust.
Tokenization ensures cardholder data is secure by giving a hosted patent page to a payment gateway that in turn provides you with a token. This is required across the industry globally under Payment Card Industry Data Security Standard (PCI DSS). The token is randomly generated, has no value, and cannot be traced back to an individual or their credit card information. Because you are not storing your customer’s credit card numbers, you cannot be at fault if they end up in the wrong hands.
At Chargent we recommend that all of our customers tokenize all of the card data that they use throughout their entire organization. To facilitate this we have developed our Payment Console and Payment request features that ensure your protected cardholder data is tokenized without ever being stored in Salesforce for any amount of time.
Do you want to learn more about Salesforce Payments? Then leave a comment and let us know what you want to see next. At Chargent we specialize in Salesforce Payments, so make sure to like, subscribe, and turn on your bell notifications for more!
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⏭️ RELATED: Chargent Zero Footprint Payment Tokenization for Salesforce
• Chargent Zero Footprin...
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⏭️SKIP AHEAD
0:00 Intro
0:11 - Tokenization Explained
1:24 - Tokenization Analogy
2:33 - Tokenization Security
3:25 - Cost For Tokenization
3:49 - Tokenize All Credit Card Data
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🧔🏻 ABOUT CHARGENT:
Chargent makes payments simple for you and your customers. Chargent payment enables any object in Salesforce, ensuring you get instant confirmation. With Chargent your recurring billing is set and forget! AppFrontier® - the makers of Chargent.
#Salesforce #Chargent #Tokenization
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🙋 CONTACT US:
We are always here to help! bit.ly/chargent-contact-us
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Пікірлер: 39

@edwardrodriguez6423 3 жыл бұрын

Fantastic video

@ChargentByAppFrontier 3 жыл бұрын

Thanks for watching!

@georgelza 5 ай бұрын

would love to see a end to end video for a transaction, from customer/holder, -> merchant -> acquirer, all the way through to the issuer bank and back...

@ChargentByAppFrontier 5 ай бұрын

Love that idea! We can do that video!

@marieemmanuellekouadio8404 4 жыл бұрын

Hello, thanks for the video, it definitely helps. Two questions: 1. If I understand correctly, tokenizing is replacing sensitive data (credit card #) by a random combination that only the "tokenizer" and the end user/final receiver can understand (know the real meaning). Correct ? 2. Using a token is different and better than an encryption, as encrypted data is stored while there is no data stored with tokenization. Did I get that correctly ?

@ChargentByAppFrontier 4 жыл бұрын

You are a fast learner! 1- Correct! With tokenization a random string is assigned by the tokenizer. Who is often the payment gateway for a merchant. 2- That is also correct. Encryption as you likely know uses a cipher, which means that it can possibly be cracked. This is why the payment industry landed on using tokenization to store card numbers. Tokenizing is safer, as if those tokens end up in an attacker's hands they are nearly worthless. It's worth noting that payment gateways are required by the PCI-DSS to encrypt all the traffic to them, so when the token is in transit, it would also be encrypted, like most web traffic is these days. Hope that this answers your questions! Hope you found this video helpful and educational!

@marieemmanuellekouadio8404 4 жыл бұрын

It is because you are a good teacher ! Thanks for sharing the knowledge and making those terms easy to understand for me. Regarding your last note in the response, isn’t it a waste of time/energy/resource to encrypt something that cannot be read if hacked ?

@ChargentByAppFrontier 4 жыл бұрын

@@marieemmanuellekouadio8404 Fair point! Google recently started preferring to see ALL traffic being sent on HTTPS. It is commonly believed that they did this to counteract the global eavesdropping networks that are known to exist. So the reality is that nearly all traffic, even KZbin is encrypted in transit. You are right that it is less sustainable from an energy perspective, however it has become the global standard. Also worth noting is that there is other personally identifiable information that is often sent as part of the payment API call, such as name and address. That would make it a good idea to encrypt the data also.

@marieemmanuellekouadio8404 4 жыл бұрын

@@ChargentByAppFrontier Got it. Everything you said became clearer when I "googled" HTTPS and API. Thank you ! I learnt a lot.

@weeikaicheng6172 3 жыл бұрын

In the context of payments, tokens are divided between High-value tokens (HVT) and Low-value tokens (LVT), which are also security tokens. Is there a layman term or examples to better understand HVT and LVT?

@ChargentByAppFrontier 3 жыл бұрын

Sorry those are not terms I am familiar with! My cursory review indicates that the industry is still struggling with specific definitions about this. I am confident there is someone that can answer this, I hope they do in the comments here for you!

@jackrandom4893 3 жыл бұрын

Is a new token created for each sale? For example, if I use a pay app at say Target and buy something, and then go to a grocery store, do they both get the same token? If they do, couldn't someone use the token number to say you purchased something from them and withdraw that money out of your account?

@ChargentByAppFrontier 3 жыл бұрын

Hi Jack! Yes, a new payment gateway token is created for each merchant for each card. Not often for each new sale. Certainly 2 tokens would be created in your example as there are 2 merchants involved. Each merchant gets a unique token per card. In this way the system avoids the pitfall that you mention. Now there is also tokenization on your digital wallet, that is on your phone, say with Google Pay, now your card number in this case is not actually passed to the merchant at all instead they create a different value ( a token) that is given to the merchant. This further protects your card data as in this case less merchants have your actual card number. Does this answer your question?

@jackrandom4893 3 жыл бұрын

@@ChargentByAppFrontier Yes it does! Thank you very much for the prompt response.

@sultanatkhan9680 2 жыл бұрын

This was really helpful. Thank you. If a merchant stores a token and uses that token for merchant initiated transactions or other payments, is strong customer authentication needed upon the first payment with the tokenized card? If the card changes and there's a new token, can earlier authentication apply to it?

@ChargentByAppFrontier 2 жыл бұрын

Happy to help! The first time a consumer enters their card number into a merchant's form, that transaction can require SCA. Once that token has been through SCA for a particular merchant, then it should not have to go through it a second time. I cannot give a 100% true rule for whether or not a new token for the same card would require SCA, typically I would think it would not. Exceptions likely exist.

@christeenamathew8387 4 жыл бұрын

Can i know about any research papers based on tokenisation using block chain

@micaiahfilkins2323 4 жыл бұрын

Hi Christeena! When I know about them, you will! :) However I don't immediately see a direct connection here. If you have some ideas about using these concepts together. I would really like to hear it!

@krishnatummala1600 3 жыл бұрын

If my use case is to authorize a customer at the time of contract generation in SalesForce and use that card every month for billing without having the customer to enter card details every month, where can this Token be stored in SalesForce for recurring use ? Our plan is to use Chargent

@ChargentByAppFrontier 3 жыл бұрын

In Chargent that token is stored on the Chargent Order record in the tokenization field. You can also find it on the transaction record. Very happy to hear you will be using Chargent! Please let us know how we can help!

@turk921 3 жыл бұрын

Great video. Thank you!

@ChargentByAppFrontier 3 жыл бұрын

Thanks Justin Best - glad you liked it. Was any part particularly helpful to you?

@turk921 3 жыл бұрын

@@ChargentByAppFrontier the Vegas analogy was very helpful for me!

@Rutu0073 2 жыл бұрын

Who buys tokenization services from provider such as Mastercard or Fiserv? Who are the customers?

@micaiahfilkins2323 2 жыл бұрын

Fiserv could be/is likely using tokenization services from the card networks, including Mastercard. Then merchants, like a SaaS software company as an example, would be buying a tokenization service from Fiserv. There are many types of tokens, there are different tokens that work at each level to keep card numbers as secure as the industry knows how.

@JobsJobs-bu4nu 3 жыл бұрын

What happens if the mobile phone falls into the wrong hands, there is a risk, right?

@ChargentByAppFrontier 3 жыл бұрын

The tokenization that we are primarily discussing in this video doesn't directly relate to the mobile phone. However there is a form of tokenization on the mobile wallets that are used on our smart devices. In the case if the phone has a good lock code and the mobile wallet is configured properly, there is little chance of the device being used for fraudulent purchases. However no lock code, plus poor configuration of the mobile wallet could lead to some fraudulent charges being approved. However the primary account numbers of the credit cards would be protected by the mobile wallet application in nearly all circumstance. Thank you for your question! To learn more about payments, subscribe to our channel!