NOT-FOR-PROFIT AND CHARITY ORGANIZATIONS:
TOKENIZATION REDUCES PCI COSTS AND DATA THEFT RISK
As a nonprofit or charity organization, you need to make it as convenient as possible for patrons and members to donate—at as low a processing cost as possible. As the number of contributors grows—a good thing!—so unfortunately does the database of payment card information (PCI) and personally identifiable information (PII) stored in your business systems—a virtual honeypot for data thieves.
Operating and securing your IT and business systems are a large part of the cost of collecting and managing donations. Unfortunately, just the cost of becoming and staying compliant with Payment Card Industry standards can consume a significant portion of your IT budget. Bottomline is that storing payment and PII data can be toxic to your organization’s operations, budget, and mission.
The TokenEx Cloud Security Platform replaces sensitive payment and personal data with mathematically unrelated tokens, stores the original data in 100% PCI-compliant data vaults, running in fully-redundant data centers. For payment data in particular, this solves two urgent problems:
Decreases the scope of PCI compliance, so that most all of your IT infrastructure is subject to the minimum number of PCI controls, thus reducing the cost and labor of keeping software and hardware in compliance with over 400 controls along with the constant testing and audits.
Removes the risk of losing sensitive data and the repercussions of lawsuits, financial fines, and adverse publicity that drives away members and donors as well as damaging your brand.
The latter benefit extends to personally identifiable information data as well. Stealing healthcare and personally identifiable information for the purpose of identity theft is becoming even more lucrative than payment data theft. Only TokenEx can tokenize both payment and PII data in the same platform, keeping it safe but instantly available for business processes.
TOP DATA SECURITY ISSUES FACING NFPS & CHARITIES
As a nonprofit or charity organization, you have a range of data security challenges beyond maintaining PCI compliance such as:
- Accepting funds using multiple acceptance channels: web, mobile apps, call center, email, and postal.
- Accepting and processing in-country donations and payments.
- Working with multiple payment processors internationally.
- Integrating payments with third-party fraud detection, chargeback prevention, card refresh, and analytic providers.
- Eliminating risk of payment and personal data theft and the resulting legal, financial, and public relations repercussions.
TheTokenEx Cloud Security Platform provides solutions to all of these challenges, simplifying your payment processing anywhere you do business, securing all types of sensitive data, integrating service providers, while dramatically reducing the cost of PCI compliance.
COLLECT PAYMENTS WITH OMNI-CHANNEL PAYMENT ACCEPTANCE
Making it easy for members and patrons to contribute to your organization requires accepting payments through as many channels as feasible. While web acceptance is the most common and convenient channel, it’s also a prime target for data thieves and fraudsters. The TokenEx Cloud Security Platform protects any acceptance channel you choose to implement.
- Payment data entered by members and donors on your web site is instantly encrypted, tokenized, and stored in secure data vaults, with only the token returned to your IT systems for future payment transactions.
- No sensitive data is received, stored, or transmitted by your web server or business systems, keeping them at the minimum level of PCI scope.
- Personal data is vaulted and tokenized, keeping your patrons’ PII safe and secured, while still being available for local marketing and analytic processing.
- Call centers can easily be integrated with the tokenization process as well, keeping payment data from being stored or processed in call center workstations, thus keeping them out of PCI scope.
FREEDOM OF CHOICE WITH TOKENEX AGNOSTIC PAYMENT PROCESSING
The TokenEx Cloud Security Platform is payment provider agnostic, so your organization is not tied to any single payment processor, gateway, or financial institution. This gives you the freedom to easily change payment processors for better pricing and service. Using the TokenEx Transparent Gateway, you can establish connections with multiple payment processors and gateways and switch among them at will so you always have a backup in case one processor goes dark. TokenEx also integrates your payment processing directly with international banks so your patrons can make in-county donations that are processed locally and provide donors with the appropriate tax credits.
WORK WITH SERVICE PARTNERS THROUGH AN OPEN SERVICE INTEGRATION PLATFORM
With the TokenEx Cloud Security Platform acting as the central point of integration, you can integrate payment service providers—such as fraud detection, card refresh, chargeback prevention, and marketing analytics—into your tokenized payment stream in real time or batch mode. Need a real time check on the authenticity of donations? TokenEx tokenizes the PAN, removing it from your systems, and integrates with the fraud detection service for analysis, returning the score to your systems in milliseconds. Do you use an account updater service? TokenEx stands ready to receive updated PAN files, matches them with tokens stored in your Secure Data Vault, and sends the tokenized files to you via a secure file transfer. You never receive, store, or transmit the payment data, only tokens, keeping your systems free of toxic data.
Our nonprofit and charity clients depend on TokenEx to provide a complete and customizable tokenization solution for their omni-channel payment streams and PII data. Let us explain how the TokenEx Cloud Security Platform can help your organization secure all types of data. Contact us today to set up an appointment to discuss your specific challenges.