Keep it simple That guidance handed down by parents since cavemen days also applies to the cutting edge of digital data technology and by extension commerce and payments That includes tokenization too specifically Multi-Variant Tokenization a new proprietary technology from TokenEx that was designed to enhance how businesses operate and interact with sensitive data The role that tokenization can play in payments is the foundation of an upcoming PYMNTS digital discussion scheduled for Sept 13 During that webinar Karen Webster will take a deep dive into Simplifying the Tokenization of Diverse Data with Alex Pezold CEO at data protection platform TokenEx Data Everywhere Data is being used everywhere and for everything that may seem obvious but it always bears repeating And data has never been more valuable not only for retail and payments but for healthcare and other areas including sense of self given how we define and group ourselves online and elsewhere according to prioritized attributes More specifically for payments and commerce companies of all sizes including large enterprises are looking for better ways to get paid and tapping into the power of mobile to access digital payment streams Its all made possible by tokenization which has a future in not only securing transactions but also in making them frictionless In fact 75 percent of US customers can be tokenized according to Mastercard data that is part of the new PYMNTS Tapping into the Tokenized Future report Tokenization is emerging as an option that will eventually be mandated once all issuers are ready for token on file But the growth of the digital ecosystem adds transaction challenges Thats because organizations keep expanding the ways that customers can buy which results in more complexity for the process of mapping and securing sensitive data As if that werent enough those firms must comply with various state federal and industry-specific compliance rules while multi-national organizations have the added pressure of needing to comply with significant data privacy and data residency requirements Thats where Multi-Variant tokenization comes in Multi-Variant Tokenization allows a companys sensitive data to be identified mapped and secured as it moves across various environments providing continuous unparalleled security while ensuring that an organizations operations remain uninterrupted As a result these companies can generate higher returns while cutting costs and reducing compliance burdens at the same time Tokenization Promise In short tokenization technology enables the following scenario Any sensitive data element can be identified mapped and secured as it moves across various environments providing an unparalleled level of security continuity so an organization can continue to do business as usual At the same time this data is generating increasing returns and reducing costs as well as compliance burdens This may sound too good to be true or too easily done In some ways it is Thats why during the Sept 13 PYMNTs digital discussion Pezold will detail the challenges of managing disparate data sets within an organization even if that enterprise relies on multiple systems with differing nomenclature and with confusing duplicates Agnostic Process He will discuss how TokenEx technology can recognize those variances and work with them to put it more technically providing an abstraction layer and keeping things there while normalizing and mapping the data elements Its an agnostic process able to operate outside the bounds of specific tokenization standards from payment networks and organizations A lot of what we are doing is on the back end he said server-to-server integration He added that if TokenEx decided to work more closely according to the parameters set by those payments groups we would be stuck with their changes and their rules And that would frustrate companies seeking to increase their tokenization efforts and limit their freedom for innovation What we are trying to do is stay out of their way he said In fact when Pezolds company works on tokenization with companies TokenEx is right there alongside them one step away The PYMNTS digital discussion also will cover such topics as how to craft a flexible data protection strategy that can protect against future data privacy and compliance issues and the need to protect additional sensitive data sets that go beyond payment card information The future is coming Tokenization may not yet offer the glamour of say mobile payments or one-button checkout but you can be sure the technology will be there nearly every step of the way