There are far too many vendors using the term tokenization loosely to describe solutions that, in fact, are not true tokenization. As if it’s not already hard enough to find the right solution (and even more difficult to pitch that solution to the decision makers), these “Tokenization-In-Name-Only” (TINO) providers make the situation even more convoluted by cluttering the marketplace with half truths and impossible promises.
At Shift4 Corporation, we know tokenization. We introduced tokenization to the industry in 2005, and since then have processed more than three billion tokenized transactions. To help you ensure that you are receiving the best possible information before you chose a tokenization provider, we’re suggesting some questions you need to be asking about tokenization:
- How does tokenization reduce my PCI DSS requirements?
- How do I handle chargebacks if I don’t have access to the card data?
- How does tokenization work in a multi-property environment?
- Are tokens portable?
- Are tokens truly random or is this really just a new name for encryption?
These questions should help you get a feel for a potential provider’s offering and to determine if they’re offering a true tokenization service or a TINO solution.
Obviously, these five points are not nearly enough to get all the information you need before choosing a solution, which is why we’ve put together a 50+ question Request for Information (RFI) for you to send to potential vendors. The RFI document will be provided to all who attend our upcoming webinar: Are You Asking the Right Questions About Tokenization?
In the webinar, we will introduce the concepts you need to understand, provide you with the questions you should ask, and discuss some of the answers that ought to trigger red flags for you and your organization.
The RFI covers seven different tokenization-related topics such as cost, implementation, data storage and more. Once you’ve had your current or potential providers answer the questions, we’ll be happy to provide ours.
Webinar Details
Date: Monday, June 13, 2011
Time: 11 a.m. PST (2:00 p.m. EST) (No space available)
2 p.m. PST (5:00 p.m. EST) Register
Who Should Attend? Financial and technology professionals in the hospitality industry
Featured Speaker: Bob Lowe, director of strategic relationships, Shift4 Corporation
Please Note: Attendance is limited to the first 100 people – Reserve your spot now
Bob Lowe is director of strategic relationships for Shift4 Corporation. He is also a member of the HFTP PCI Compliance Roundtable. Visit Shift4, sponsor of the PCI Compliance Boot Camp and PCI Compliance Roundtable Update, at HITEC in booth 1437. Follow Shift4 on Twitter @shift4corp, on Facebook, on the Shift4 blog and on LinkedIn. You can also contact Shift4 at marketing@shift4.com.
