An Omnichannel Boon to Bring Scalability across a Wider Set of Businesses

TokenEX, the leading independent cloud tokenization provider, has officially announced the launch of its Point-to-Point Encryption (P2PE) solution, which is designed to unify in-person and online retail channels and reduce the scope of Payment Card Industry Data Security Standard (PCI DSS) compliance by up to 90%. According to certain reports, the stated solution makes it possible for you to conduct outright secure and compliant in-person payments. You see, given how it cuts back significantly on the cost and complexity of PCI compliance related to in-person (card present) transactions, TokenEx’s P2PE limits a lot of our unnecessary exposure to outside risks. Next up, we have the prospect of an omnichannel integration where TokenEx universal tokens enable omnichannel storage of payment information, improve tracking of customer behavior across channels and processors, and at the same time, eliminate the need to manage payment information from across multiple providers and gateways.

“The cost and complexity of managing multiple payment processors and the PCI audit process can stifle growth into new channels and markets,” said Marc Olesen, CEO of TokenEx. “Thanks to TokenEx, omnichannel merchants can simplify and streamline their operations, enabling them to rapidly scale their business.”

Moving on to the solution’s multiprocessor flexibility, this translates to the fact that TokenEx’s latest brainchild is actually compatible with various different payment terminal and POS solutions. Owing to stated compatibility, merchants can avoid “processor lock-in” associated with existing payment terminals and POS devices by easily adding, removing, and changing processors with evolving business needs.

To understand the significance of such a development, we must take into account one Gartner report, which said:

“To build immersive and engaging experiences for customers and store associates as well as improve operational intelligence, physical stores are transforming to be operationally ‘omniscient.’ Technology investments to digitalize the store are generating data that is being harnessed to boost operational execution, enhance customer and associate experiences, improve operational visibility, reduce shrink, and boost overall profitability.”

Now, having said so, there are still triggers in play that can keep omnichannel retailers from offering a unified experience, thus causing disconnect between in-person and online commerce experiences. But what are these triggers? Well, for the purpose of an example, we must acknowledge how merchants may be limited in their choice of payment terminals, terminal applications, and payment processors. Even if we talk about in-person point of sale (POS) solutions, they tend to expand the scope of the PCI DSS audit process, eventually increasing the operational overhead and compliance burden for merchants.

Fortunately enough, TokenEx’s new P2PE solution bridges that big time by replacing sensitive payment information with tokens. Markedly enough, alongside reducing the cost and complexity of PCI DSS audits, and seamlessly integrating in-person and online transactions, the solution helps you choose the best payment solutions without being constrained by their acquirers’ offerings.

Founded in 2010, TokenEX has risen up on the back of its ability to reduce PCI scope and unify payment data across all channels & processors so to mitigate fraud, increase authorizations, and generate more revenue. The company’s excellence in what it does can be understood once you consider it is currently trusted by the likes of Orvis, payNseconds, acima, Super, Payliance, Bill360, Secure Medical, Payouts Network, TiloPay, VIVRI, Trust my Travel, and many others.