Merchants that are looking for ways to reduce their PCI Compliance Scope, responsibilities and costs now have an answer. PCI Compliance is a set of requirements designed to ensure that companies that collect, process, store or transmit credit card information do so safely and securely. Hosted checkout is a proven method to minimize such requirements.
Hosted checkout uses technology that gives the look and feel of a merchant checkout page without the data (i.e. credit card numbers) actually being handled by the merchant. This happens because a hosted checkout i-frame allows for merchant control / appearance of the user’s experience on their website. Hosted Checkout handles the sensitive information so the merchant doesn’t have to. In other words, since the merchant didn’t collect the PCI data, it doesn’t have that onerous responsibility to protect it.
Another feature of hosted checkout is easily enabling tokenization, which replaces the real credit card number with a facsimile for future reference to the consumer’s account. Cardinal defines tokenization as the process of translating a credit card number into a random sequence of numbers/letters as a method of encryption, to enhance security during a transaction. By creating a facsimile or token that looks and feels like a credit card number, merchants can easily migrate and protect data with a tokenization solution.
Enabling a third-party hosted checkout solution allows for a quick and cost-effective way to reduce your PCI scope, enable tokenization, and protect merchant and consumer data.