Mobile Wallets

Farmers State Bank Debit Cards can be connected with Apple Pay ®, Samsung Pay ® and Google Pay ®!

What is tokenization?

Mobile Wallets use tokenization. Tokenization is the process of replacing the traditional payment card account number (PAN) with a unique digital token in online and mobile transactions.  Tokens can be restricted for transactions with a specific mobile device, merchant or transaction type.  The tokenization process happens in the background in a way that is invisible to the user.

A payment token is a numeric substitute for a PAN and can be processed by all participants in the payment ecosystem.  Payment tokens map back to the underlying account, providing account issuer with the full transaction details.

What are the Benefits of Tokenization?

Tokens help simplify the purchasing experience for consumers by largely eliminating the need to enter and re-enter the account number when purchasing on a connected device.  They can also help prevent mobile payments fraud by removing sensitive card account information from the payment process.

  • Enhances transaction efficiency
  • Improves transaction security
  • Provides a secure method for third-party enablement (wallet, QR codes, and near field communication [NFC]
  • Reduces the risk of fraud in digital channels