TokenEx is an enterprise data security company, providing unique solutions that couple tokenization and end-to-end encryption (E2EE). TokenEx has developed a new patent-pending solution for handling payment card transactions for merchants that will help them avoid a majority of, if not all of, PCI Compliance requirements and will secure payment card data from card swipe through authorization and settlement. By removing payment card data from our merchants’ environment, they can get back to focusing on their core competency without the risk of credit card data breach and cost of achieving and maintaining PCI Compliance on an annual basis.
More specifically, TokenEx’s service shifts the operational burden and a majority of the compliance requirements from the merchant to TokenEx. It does so by routing payments through TokenEx using our managed SecurCard Tap which employs end-to-end encryption, and sending a look-alike credit card number called a “token” through the merchants’ environment. Using this model, payment card information never touches the merchant environment reducing operational, compliance, and risk costs on a continual basis.
Tokenization as a Service, or “TaaS”, and PCI Avoidance are two new concepts in the payments space. TokenEx is on the bleeding edge with proven solutions that achieve both.