- Security: Implementing tokenization via a Software as a Service (SaaS) model ensures no customer card data resides within company systems. By eliminating the storage of sensitive cardholder data, merchants can realize a multitude of security advantages over traditional enterprise encryption solutions.
- Cost effectiveness: A tokenization solution requires minimal upfront capital expenditure and it saves on the back-end by preventing costly breaches. According to Gartner Group, a company with 100,000 customer accounts spends $6 per account to roll out encryption appliances. A separate encryption solution is required for each place where credit card data is stored. In a large enterprise there can easily be 10 or 20 systems. In contrast, by transferring all card holder data out of your systems, a company eliminates capital expenditures. It’s a simple premise: the less data there is onsite the less it costs to keep it secure.
Mr. Wine is an electronic payments industry subject matter expert with more than 20 years of top-level, global executive leadership experience. As President and CEO of Paymetric, Inc., Mr. Wine is responsible for increasing stakeholder value through strategic, operational, financial and resource excellence. In his first year with the company, Mr. Wine spearheaded a new strategic vision that positioned Paymetric as the global leader in integrated and secure ePayment processing for ERP systems. He has successfully led the transformation of Paymetric’s business model from a licensed payment integration software company to a Software-as-a-Service ePayment processing company. Prior to joining Paymetric, Mr. Wine was President and CEO of RBS Lynk, where he was responsible for the strategic leadership and executive management of the U.S. acquiring business.
Paymetric, Inc. is the leading provider of integrated and secure electronic payment acceptance solutions that enable companies to streamline the order-to-cash process, reduce the scope and financial burden of achieving PCI compliance and improve return on electronic payment acceptance. Paymetric’s solutions support virtually every type of electronic payment in any enterprise system where payment is accepted. Paymetric is recognized as an industry leader and is a three-time award-winning SAP certified partner. Visit www.paymetric.com for additional information.