News | April 4, 2024

Exact Payments Launches Network Tokenization Service For Embedded Payments

Exact Payments partners with Cybersource, a Visa solution, to deliver network tokenization technology as a featured service in its Payfac as a Service platform

Scottsdale, AZ /PRNewswire-PRWeb/ - Exact Payments, a leading provider of embedded payments technology, announced today the launch of its network tokenization solution leveraging Token Management Service (TMS) by Cybersource, a Visa solution. This new solution helps create a secure and scalable payment card security program for software companies integrating with Exact's Payfac as a Service (PFaaS) platform. Network tokenization is an emerging industry standard which allows companies to securely transmit and store payment tokens across in-store, eCommerce and subscription channels while reducing the risk of fraud and increasing authorization approval rates.

Research data from Visa, a world leader in digital payments, highlights that network tokenization can reduce fraud by approximately 28%*, improving cardholder experience and saving merchants thousands annually in chargeback and other fraud related costs. Additionally, Visa reports that network tokens improve authorization approval rates by 3-4%, increasing revenue and giving businesses a real competitive advantage.**

Network tokenization works by replacing credit and debit card primary account numbers and other sensitive cardholder data with token values generated by proprietary algorithms. Network tokens are created and managed throughout the payment lifecycle by card issuers for payment networks. As a result, network tokenization ensures a consistent cardholder experience and superior level of security across payment channels, devices, and platforms.

Additionally, with Exact network tokenization, merchants benefit from robust lifecycle management services, including card account updates, which automatically updates card-on-file data thereby reducing declines caused by out-of-date, expired card information.

"Network tokenization is an absolute game changer for our software partners and their merchants", said Phil Levy, CEO of Exact Payments. "Everyone wins with network tokens except fraudsters. We've been rolling the service out with early adopters over the past six months. With this launch, the Exact team will accelerate work with clients around education, planning and implementation of network tokenization. With each new partner onboarded for this service, merchants will start realizing the benefits— higher approval rates, reduced fraud, fewer chargebacks, and frictionless payment experiences," added Levy.

"Visa is first and foremost focused on securing the payments ecosystem for all participants," says Bill Dobbins, Senior Vice President, Head of North America Acquiring & Enablement at Visa. "From the beginning, we have been leading the standards around network tokenization and working with issuers, acquirers, fintechs and merchants to educate, promote and support the roll-out of these services. Momentum is building across the payments industry and the benefits include fraud reduction, higher authorization rates and frictionless cardholder experiences. We are excited to add Exact Payments to the list of Cybersource partners promoting network tokenization paving the way for a future where digital payments are safer, faster, and more convenient than ever before."

For more information on embedded payments solutions and network tokenization, visit

About Exact Payments
Exact Payments develops and delivers easy-to-integrate and highly scalable payments technology for SaaS companies to seamlessly embed payment flows into their software and activate a new, high-margin revenue stream. With Exact's PayFac-as-a-Service solution, SaaS providers build frictionless buying journeys that enhance customer experience, improve retention, and increase the lifetime value of a customer by as much as 5x. Today, Exact processes >1 billion transactions annually for prominent customers, including Chase, Ordway, Cineplex, Allianz, Levi's, and Carfax. For more information, visit


** VisaNet, Oct-Dec 2022. Visa credit and debit global card-not-present transactions for tokenized versus non-tokenized credentials. Authorization rate is defined as approved authorizations divided by total authorization attempts based upon the first attempt of a unique transaction.

Source: PRWeb

View original release here: