Customer Token Vault
Boost payment approvals and reduce costs with the power of network tokens. NMI Customer Token Vault delivers the added security of network tokens to further empower merchants to repeat transactions securely. All without needing to store or recollect customer payment data – even if the PAN on the underlying card has changed.
NMI Network Tokens with Customer Token Vault
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How It Works
Network tokenization replaces sensitive card details with secure network tokens (that are managed by major card networks) to strengthen transaction security and efficiency. Customer Token Vault uses these network tokens to simplify transactions, lower operational costs and improve the overall user experience.
Increasing Authorization Rates & Lowering Costs
Network tokenization is a cutting-edge card payment technology that maintains PCI compliance, provides a seamless checkout experience and can increase payment authorization rates along with lower interchange fees. It has proven to be a winning technology with widespread adoption and a huge impact on merchants and consumers.
In fact, Visa has issued more than 10 billion network tokens since 2014, and 95% of North American payment volume is enabled for digital network tokens.1
*More secure transactions can result in lower processing fees.
Source 1: Visa’s Journey Through Tokenization
Source 2: Visa – “ Make network tokens your strategic advantage”
Robust Payment Acceptance and Automation
Get to know the key players and processes that make network tokenization possible.
01
Customer enters
card details
02
Token is requested
from card network
03
Network token is generated,
encrypted and stored
04
Network token is used
and reused for transactions
instead of actual card data
Secure at Every Turn
Make Payments More Secure with Customer Token Vault
The full benefits of network tokenization are well within your reach. Get enhanced security, lower interchange fees, better customer experiences and fewer card declines with NMI’s cutting-edge Customer Token Vault solution. Get Your Network Tokens](/content/products/payment-gateway/customer-token-vault/#talk-to-our-team/index.html)
Payment Tokenization Can Lead to Lower Interchange Rates
NMI has been a leader in providing payment tokenization to our customers for decades. We do it for all the security and customer experience benefits above. But we’re also focused on saving businesses money. And when tokenization leads to lower interchange rates (as it often does), we proudly pass those savings along to our partners and their merchants.
Network Tokens Lead to Fewer Declines and Smoother Recurring Payments
Card declines lead to abandoned carts and poor customer experiences. Declined recurring payments can lead to lost revenue, with customers deprived of desired services and providers losing valuable recurring income.
Network tokens address a key cause of card declines: changes in the underlying card number. When network tokenization is employed, card networks automatically update NMI (your network token manager) and tell us to update our token to reflect the new PAN on the card. Nothing is required on the merchant’s end, and they can continue to charge as if no change has taken place.
Network Tokens Slash Fraud
Primary account numbers (PANs) are found on the face of every credit card. They’re widely accepted by businesses, and they make online transactions easy. But, they also enable fraud.
Tokenization replaces those PANs with a secure string of numbers that can only be used by the merchant who collected the card information, thereby enabling secure storage and payments.
Network tokens take that security and convenience one step further, placing the token creation at the card network level. They convert users’ PANs into network tokens and keep them current, even if the PAN on the underlying card changes.
Provider Tokenization vs. Network Tokenization
Our NMI Customer Vault gateway extension securely encrypts and stores customer payment information for future use. Merchants benefit from PCI compliance and easy repeat transactions. The token is generated and stored by NMI.
Meanwhile, our NMI Customer Token Vault similarly encrypts and stores customer payment information. But, the token is generated by the payment network. When tokenization happens at the network level, tokens can be securely updated when the customer’s payment information changes (as in the case of lost or expired cards).
Enter the Future of Payments with NMI Customer Token Vault
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It’s time to unlock your full growth potential, innovate fearlessly and thrive as an organization with the embedded payments solutions we deliver.