Abstract

The banking sector is under increasing pressure to ensure secure and seamless digital payment processes. Tokenization, a method of securing sensitive payment data, has emerged as an effective strategy for mitigating security risks and ensuring compliance with Payment Card Industry Data Security Standards (PCI DSS). This paper explores the implementation of tokenization strategies within the banking sector, emphasizing its role in achieving PCI compliance. Through case studies, statistics, and the presentation of real-world examples, the paper highlights both the challenges and benefits of adopting tokenization strategies.