BASINGSTOKE, England, July 18 (Bernama-BUSINESS WIRE) — A new study from Juniper Research has found the total number of tokenised payment transactions will exceed 1 trillion globally by 2026; rising from 680 billion in 2022. This represents growth of 58% over the next 4 years. It attributed this growth to the rise of ‘one-click’ solutions, such as Click-to-Pay, using card-on-file tokenisation to store a customer’s payment credentials; enabling them to auto-fill their checkout details and complete transactions via a single click.
Tokenisation protects customers’ payment credentials when stored; replacing sensitive data with token values that hold no intrinsic value. This prevents malicious actors from gaining access to payment data in the event of a data breach.