IXOPAY hat dies direkt geteilt
The Payments Strategist | The Future of Payments Is Changing. I Help Payments Companies & Acquirers Stay Ahead.
Why Merchants Are Embracing Payment Account Reference (PAR) And What It Means for the Payments Industry. Payment Account Reference is generating a lot of buzz, and for good reason: it solves one of the most elusive challenges in multi-channel payments. As a Data Scientist, I’ve spent countless hours trying to map one customer’s online purchase with the same customer’s in-store transactions. Historically, that meant building algorithms around multiple data points, such as PANs, email addresses, IP addresses, and device IDs, to predict if the transactions were from the same person. It worked, but only when you had access to enough sensitive information. However, when you operate outside an Acquirer’s data environment, it becomes far more difficult to truly unify those data sets, as most Data Scientists at Payments Service Providers can attest. PAR streamlines this process by assigning each card (PAN) a single, non-sensitive, 29-character reference that appears consistently across all its possible “forms,” whether a shopper taps their card in-store, uses a mobile wallet, or transacts online with a token. This means you no longer have to rely on sensitive identifiers for analytics. Instead, your systems can key off one universal reference value, significantly reducing compliance burdens and PCI scope. At the same time, you can track customer behavior far more accurately because minor changes, like a new token or an upgraded device, don’t affect the relationship to the underlying payment credential. As one of the first in the market, IXOPAY’s PAR solution gives merchants a practical route for deploying PAR across their payment flows. By seamlessly incorporating the PAR into authorization responses and stored data, IXOPAY helps merchants by doing the heavy lifting behind the scenes, while they can now get a deeper level of insight. In practice, this means more precise risk models, easier loyalty program enrollment (no more repeated sign-ups just because a customer changed cards), and deeper analytics that can finally show how the same individual interacts with a merchant's brand both online and offline. It’s a big step toward that long-promised 360-degree view of the customer that so many talk about but few have been able to deliver on. Personally, I see this as a positive turning point for the industry. PAR finally gives us a single, standardized tool to unify multi-channel data without passing around sensitive credentials. Just imagine the possibilities and how it will help improve the collaboration between merchants, issuers, and acquirers on analytics and fraud prevention. Do you think PAR can help improve insights into customer behavior and collaboration within the four-party model? Let me know what you think in the comments. P.S. As Network Tokens are becoming more relevant, check out my newsletter as I will share some deeper Breakdowns on it soon https://buff.ly/waBC2pB