Nuvei accelerates revenue for customers with advanced network tokenization features
Utilizing tokens issued directly by card schemes and banks,
- Frictionless first-time payments: Guaranteed rapid processing of transactions initiated by new customers to within a few seconds, with subsequent transactions processed even faster using the same pre-existing secure token.
Nuvei's flexible solution also optimizes when the token is created, either during or following the transaction, to reduce payment friction. - Automatic token updates: An embedded updater feature automatically transitions a customer's token information to a new card in the event of changes, preventing service disruptions and declined transactions.
- Smart cascading technology: A proprietary system to ensure uninterrupted service, this solution instantly switches processing strategies if a token issue arises, keeping transactions smooth and successful.
These features are already being rolled out globally, supporting partners to optimize card payment acceptance. A solution to offer 'tokenization-as-a-service' via universal tokens applicable across multiple acquirers will be available in the near future.
A secure, integrated payment platform
This solution, which is seamlessly integrated into its full stack payments platform, boosts card-not-present (CNP) payments security through comprehensive protection against data exposure and the threat of fraudulent transactions typically associated with CNP payments. By replacing sensitive card details, such as the primary account number (PAN), with a unique, secure identifier, tokenization offers significant security advantages over traditional encryption methods. This approach has been proven to decrease fraud rates in the payments industry by up to 26%.
Nuvei Chair and CEO
About Nuvei
For more information, visit www.nuvei.com
1 Convenience and control: Embedding tokenization in everyday ecommerce | Visa Navigate
NVEI-IR
Contact:
Public Relations
Investor Relations
IR@nuvei.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/nuvei-accelerates-revenue-for-customers-with-advanced-network-tokenization-features-302082824.html
SOURCE