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Digital Identity, Security & Online Fraud

Magensa launches tokenization services for sensitive data protection

Friday 11 January 2019 | 10:44 AM CET

Magensa, a subsidiary of MagTek, has announced the availability of Magensa Tokenization Services designed to protect sensitive data.

Magensa Tokenization Services is a vaultless, cloud-based solution that offers data protection by replacing sensitive data it with a cryptographically secure token and an integrity hash. Because the solution is vaultless, there are no storage fees. Cryptographically secure tokens are returned to the owner of the sensitive data.

The solution is recommended for protecting credit card information in many payment applications including card on file, tipping, and authorization and capture. If a merchant encrypts cardholder data (PAN/expiration date) when the card is swiped and receives a token back for settlement purposes, a merchant thus reduces their PCI-DSS scope. In general, any application where sensitive data is maintained and needs to remain private is an excellent candidate for tokenization.

Magensa Tokenization Services are accessed through the Magensa Payment Protection Gateway (MPPG) or the Magensa Decrypt and Forward service to generate and redeem tokens.

More: Link
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