Today, leading payment orchestration platform BR-DGE launches BR-DGE Vault, a state-of-the-art Network Tokenisation product to deliver industry-leading transaction performance and security to its merchants and payments partners. Amid disruptive innovation in payment technology, BR-DGE is leading the way with a ground-breaking product which enables merchants to leverage the benefits of an independent and enhanced tokenisation solution.
A recent survey by BR-DGE found that 83% of consumers are concerned about their payment security when shopping online, highlighting an increasing need for merchants to protect consumers’ data at all costs with the best fraud tools in the market.1 To stay ahead of rapidly rising demand for seamless, secure payments, BR-DGE is now offering a cutting-edge tokenisation solution.
A new level in data security for credit and debit card transactions, Network Tokenisation is a solution where a customer card’s primary account number (PAN) is replaced by a unique payment card scheme token, restricted to only be used with a certain device, merchant, transaction type or channel. Network tokens also come with the additional ease of use for secure, repeat purchases and subscriptions, with cards automatically updating when they expire. As the tokenisation is initiated by BR-DGE, directly at card scheme level on behalf of the merchant, Network Tokens can be used across multiple payment processors. This gives full flexibility to the merchant enabling them to process Network Tokens via their existing payment integrations or allow BR-DGE to handle the full payment flow, with the additional benefit of BR-DGE’s full payment orchestration product suite.
With Network Tokenisation anticipated to be a major catalyst in payment innovation, BR-DGE Vault differentiates itself through its Hybrid PAN and Network Token model, a unique token vault proposition that promotes the most relevant token for the payment being made and the processor being used. This helps to ensure Network Tokens are used whenever possible, but not restricting payment optimisation when unavailable.
The game-changing product, which removes significant levels of friction in the payment flow and benefits from high rates of scheme participation, can be consumed standalone to uplift an existing payment stack. Alternatively, it can be utilised as part of BR-DGE’s wider orchestration offering, enabling the use of intelligent routing and other market-leading features.
The need for stronger fraud management tools and wider optimisations of payments drove BR-DGE to offer Network Tokenisation as a standalone product, giving merchants and payment providers a variety of additional benefits, including:
- 2-7% uplift in authorisation rate
- A reduction in fraud as scheme-issued tokens are trusted and known
- Immediate token updates for expired, stolen or fraudulent cards
- No resubmission of a CVV, reducing consumer friction at checkout
By building integrations directly into the payment schemes and leveraging BR-DGE’s Vault product, merchants will now see significant authorisation uplifts, improving the customer payment experience without needing to manage the integrations themselves. Alongside this, Vault ensures that consumers’ credentials are always kept up to date, reducing friction, merchant declines and overall fraud rates.
Network Token is the cornerstone for new industry-wide payment innovation, including Click to Pay and Device Binding, which will be included in future iterations of BR-DGE’s Vault offering.
Brian Coburn, Chief Strategy Officer at BR-DGE said: “We’re delighted to announce our stand alone Vault service which marks the first of a number of exciting products to be released over the next year by BR-DGE, providing greater access to some of the most cutting-edge tools within our platform.
The shift towards subscription-style fee plans from merchants elevates the demand for better fraud protection, authorisation rates and lifecycle management. Vault perfectly demonstrates BR-DGE’s ability to meet these demands, quickly delivering the latest payment solutions to our merchants.”
Growing with merchants
This comes as a first step in BR-DGE’s new productisation strategy which aims to give merchants access to standalone products, allowing them to select specific solutions within BR-DGE’s wider orchestration system. Tokenisation opens up the opportunities for enhanced purchasing experiences across all channels, with an immediate global impact on a merchant’s payment suite.
As an independent technology provider, BR-DGE is able to implement token requests to each merchant’s market, personalising the tool to their specific requirements. With BR-DGE Vault, merchants can now leverage BR-DGE’s innovative technology to meet their specific business needs, delivering better commercial and customer outcomes.
With its multi-cloud, multi-regional architecture, the product is highly scalable, allowing it to respond to merchant demands and support rapid expansion or growth in transaction volume. The modular nature of productisation enables close ties to the option to immediately access the much wider suite of BR-DGE orchestration technology, running through a single point of API integration.
Notes to Editors:
1 This was a survey of 1,252 individuals, conducted by ImpactSense on behalf of BR-DGE.