New Service from Payment Processor On-Line Strategies Offers Credit Card Tokenization

Share Article

OLS.Vault Tokenizes Values for Faster Checkout and Reduced Incidence of Fraud

News Image
As part of our OLS.Switch and OLS.Payments products, OLS.Vault is ideal for merchants wishing to reduce PCI compliance costs since the tokenized values we substitute for card data are useless to those looking to commit fraud.

On-Line Strategies, providers of payment processing software and hosted services, is pleased to announce their use of credit card tokenization, designed to reduce consumer risk when making a purchase and decrease merchant PCI compliance costs. The application known as OLS.Vault uses a randomly generated substitute value, known as a token, instead of a credit card number to keep transactions secure.

OLS.Vault stores encrypted credit card information alongside a permanent or temporary token to speed up the process of online orders, without putting credit card information at risk of fraud.

“As part of our OLS.Switch and OLS.Payments products,” says Terry Richards, founder and CEO of On-Line Strategies, “OLS.Vault is ideal for merchants wishing to reduce PCI compliance costs since the tokenized values we substitute for card data are useless to those looking to commit fraud.”

When customer information is given a tokenized value in place of gift and credit card numbers, merchants may further secure sensitive information. They can also rest easier knowing that credit card tokenization prevents merchants from needing to use stored credit card information for recurring transactions.

About On-Line Strategies
Since 1996, On-Line Strategies has provided the financial services, retail and healthcare industries with mission-critical payment and adjudication systems, strategic and technical business process consultation and production support services. Many of North America’s most demanding online and web-based processing environments depend on OLS for open architecture solutions and legacy application alternatives that offer proven performance, flexibility and the lowest cost of ownership.

Any organization offering non-cash payment alternatives to its customers may benefit from OLS’ capabilities: from banks and financial service providers to retailers; from pharmacy chains to healthcare providers and payers; from direct deposit ACH originators to payroll providers; and more. Visit OLS online at http://www.olsdallas.com.

###

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Ron Barker
Visit website