GLOSSARY
Network Tokenization
Replacing card PANs with scheme-issued tokens to reduce fraud, improve authorization rates, and keep credentials current.
Network tokenization substitutes the primary account number (PAN) with a token issued by the card network. Tokens can be lifecycle-managed (e.g., card-on-file updates) and are domain-bound for specific merchants or devices.
Benefits include higher approval rates, reduced fraud, and fewer declines when cards are reissued. Tokenization complements processor/device tokens and lowers the scope for PCI DSS by reducing raw PAN exposure.
Related
Related terms.
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Acquirer
Bank or payment institution that signs merchants and routes their card transactions into the card networks.
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Apple Pay
Mobile wallet by Apple that tokenizes cards for contactless and in-app payments.
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Card Fraud
Unauthorized card use or theft of credentials to initiate transactions.
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Card Network
Payment network (e.g., Visa/Mastercard) that sets rules and routes card transactions between issuers and acquirers.