Amid multiple innovations in payment technology, BR-DGE Vault enables merchants to leverage the benefits of an independent and enhanced tokenisation solution.
A survey by BR-DGE found that 83% of consumers are concerned about their payment security when shopping online, highlighting an increasing need for merchants to protect consumers’ data at all costs with augmented fraud tools in the market. To stay ahead of rapidly rising demand for seamless, secure payments, BR-DGE is now offering a cutting-edge tokenisation solution.
A new level in data security for credit and debit card transactions, Network Tokenisation is a solution where a customer card’s primary account number (PAN) is replaced by a unique payment card scheme token, restricted to only be used with a certain device, merchant, transaction type or channel. Network tokens also come with the additional ease of use for secure, repeat purchases and subscriptions, with cards automatically updating when they expire.
As the tokenisation is initiated by BR-DGE, directly at card scheme level on behalf of the merchant, Network Tokens can be used across multiple payment processors. This gives full flexibility to the merchant enabling them to process Network Tokens via their existing payment integrations or allow BR-DGE to handle the full payment flow, with the additional benefit of BR-DGE’s full payment orchestration product suite.
With Network Tokenisation anticipated to be an important catalyst in payment innovation, BR-DGE Vault differentiates itself through its Hybrid PAN and Network Token model, a unique token vault proposition that promotes the most relevant token for the payment being made and the processor being used. This helps to ensure Network Tokens are used whenever possible, but not restricting payment optimisation when unavailable.
The game-changing product, which removes significant levels of friction in the payment flow and benefits from high rates of scheme participation, can be consumed standalone to uplift an existing payment stack. Alternatively, it can be utilised as part of BR-DGE’s wider orchestration offering, enabling the use of intelligent routing and other market-leading features.
The need for stronger fraud management tools and wider optimisations of payments drove BR-DGE to offer Network Tokenisation as a standalone product, giving merchants and payment providers a variety of additional benefits, including:
2-7% uplift in authorisation rate;
A reduction in fraud as scheme-issued tokens are trusted and known;
Immediate token updates for expired, stolen or fraudulent cards;
No resubmission of a CVV, reducing consumer friction at checkout.
By building integrations directly into the payment schemes and leveraging BR-DGE’s Vault product, merchants will now see significant authorisation uplifts, improving the customer payment experience without needing to manage the integrations themselves. Alongside this, Vault ensures that consumers’ credentials are always kept up to date, reducing friction, merchant declines and overall fraud rates.
Network Token is the cornerstone for new industry-wide payment innovation, including Click to Pay and Device Binding, which will be included in future iterations of BR-DGE’s Vault offering, according to the press release.
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