Trends Report

Demystifying The Latest Payment Token Type For Retailers, Brands, And Other Merchants

The Use Cases For Payment Tokens Are Growing

May 17th, 2021
With contributors:


Merchants, familiarize yourselves with card-on-file payment tokens today. Card-on-file payment tokens — often called "network tokens" today — are the latest evolution of payment tokenization. They bring the same security of in-person tokenized payments to e-commerce and are designed for merchant-initiated card-on-file e-commerce or card-not-present (CNP) payment transactions (e.g., e-commerce, subscriptions). This report defines card-on-file payment tokens, outlines the components, and explains how they facilitate payments.

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