In our modern era of cyber-attacks and security breaches, the value of sensitive data detailing our financial transactions and personal lives is at a premium. From groceries to government, the threat of our potentially lucrative online existence being hijacked and sold to the highest bidder is foremost on the minds of both the public and digital security experts. And while it may sound counterintuitive, one of the safer data transfer processes could be one that attempts to render your valuable details completely worthless: tokenization.
A marked shift toward tokenization has been underway since 2014, when EMVCo LLC implemented specifications via EMV (Europay, MasterCard, and Visa). EMVCo's members also include Discover and American Express, so this change in how sensitive data is delivered and processed is set to become America's standard. It's not just financial data: everything from your driver's license, medical details, and voting profile all stand to benefit from being tokenized. So how does it work?
To learn how encryption can lower the cost of regulatory compliance while enhancing security, download our white paper Reducing the Cost of Regulatory Compliance with Encryption.