NMI, a global leader in embedded payments infrastructure, announces NMI Customer Token Vault, a new extension to the NMI Gateway. Customer Token Vault introduces network tokenization with dynamic tokens issued and managed by major card networks, along with the ability to securely store and protect sensitive card data for processor agnostic provider tokens.
NMI Customer Token Vault is specifically designed to reduce costs by lowering interchange fees, increasing acceptance rates, and minimizing chargebacks, while improving security and enhancing repeat payment experiences.
Addressing the growing challenge of transaction fraud, NMI Customer Token Vault provides ISOs, software providers, and their merchants with a powerful solution to meet modern security requirements. This new extension to the NMI Gateway enhances security by reducing the risk of data breaches, and simplifying PCI DSS compliance, while also improving approval rates and streamlining payment processes.
Jared Drieling, Chief Innovation Officer, TSG (The Strawhecker Group) said:
“Merchants adopting network tokens are seeing tangible benefits, including reduced fraud and improved approval rates. Led by the likes of Mastercard and Visa, network tokenization represents a significant advancement in securing payment transactions while enhancing the overall efficiency of digital commerce. With the adoption of network tokens on the rise we’re seeing a safer and more efficient payments ecosystem that’s better equipped to support the growing demands of digital commerce.”