BellID Payment Account Tokenization (PAT)
Payment Account Tokenization is a secure and powerful approach to control account fraud. Account tokenization refers to the replacement of the DDA of the account holder to a tokenized surrogate value. The purpose of Payment Account Tokenization (PAT) is to add an additional layer of security during the account to account transaction, by adding account tokenization either before or during transaction time. PAT protects payment accounts using tokenization, domain control, cryptogram protection, and ID&V. With Domain Controls, PAT limits the use of a token, based on criteria provided by the account holding bank. These could include: originator restrictions, dollar limits, velocity limits.
Additional cryptographic protections may be provided by PAT in some scenarios. A cryptogram is the transaction’s digital signature, holding elements of the originator, recipient, financial Institutions, and the transaction itself. With ID&V, PAT provides a specific token assurance level during the issuance of a token or later during its life cycle.