I read a few threads about tokenization, but I have hopefully a quick query.
For those organizations who use tokenization, how many cards do you have tokenized?
We use WorldPay and are trying to make the move to tokenization, which charges by month, by # of cards and they are expensive. I'm trying to gauge how many cards other cultural organizations are tokenizing.
Thank you!
We're looking at this as well, Mark. To me it only makes sense to tokenize cards used for recurring payments. All other cards don't need to be tokenized and can be purged on a schedule.
Just be sure that WorldPay will keep tokens long enough for your recurring payment schedule. I feel like when we were first looking at this (and on WorldPay) they had some absolute limit on how long tokens were kept that was way under a year.
To clarify, Worldpay's stored card tokens (tokens for credit cards saved on a patron's account) do not expire. Their refund by reference numbers (the transaction ID numbers used to refund originating transactions) only last for 45 days. They are two different data points.
Thanks,
Patrick
Interesting. That's actually the worst order for a performing arts company, but maybe sufferable for a museum or zoo. We would be in trouble every year if refund by reference went away in a month and a half.