Litle Launches Tokenization Solution for CNP Merchants

Sept. 30, 2010

CNP payments processor Litle & Co. recently announced the availability of an integrated tokenization solution that enables CNP merchants to safely remove sensitive cardholder data from their systems without disrupting the integrity of their existing credit card transaction-based processes. The Lowell, Mass.-based payments management company said Litle Vault, through the Litle payment processing platform, enables merchants to use tokens in place of credit card numbers for all successive payment transactions including authorizations, deposits and chargebacks. The company said tokenization reduces the scope of PCI compliance—and therefore the costs—merchants are responsible for and minimizes the risks of data breaches. “Tokenization of payment card data has quickly become a must-have for e-commerce and direct-response merchants whose web presence exposes them to a great deal of breach risk and who are seeking to reduce their PCI scope,” said David Fish, senior analyst at Mercator Advisory Group, the leading research and consulting firm focused on the payments industry. According to Jason Pavona, executive vice president of sales and marketing for Litle & Co., tokenization “is the next step in enabling merchants to safely remove sensitive cardholder data from their systems. Litle & Co. is excited to offer merchants a platform-integrated solution, the Litle Vault, designed to address continuing vulnerabilities in the payment chain of credit and debit card transactions, ahead of other vendors.”