Network tokens offered by major credit card networks are poised for further growth, with 77% of merchants not currently offering network tokens planning to roll them out.
92% of PSPs that already enable the technology plan to invest in further capability to upgrade areas such as digital wallet card payments, card-on-file payments, and recurring payments.
Merchants and PSPs express concerns about service fees and costs, with fees being identified as a top concern. Service providers need to educate potential customers about tokenization's full value proposition.
A PYMNTS Intelligence and Mastercard collaboration report explores the adoption rates, use cases, advantages, and expected growth of network tokens, providing crucial information for merchants and PSPs.