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"Tokenization" gets used to describe several different things in finance. In the context of everyday payments, it has a specific, well-established meaning worth separating from other uses of the word.
Payment-credential tokenization
Card and payment-credential tokenization replaces a sensitive card or account number with a substitute value — a token — that can be used for stored or recurring payments without exposing the original credential. If a token is exposed, it typically cannot be used outside its intended context, which reduces exposure compared with storing raw card numbers.
Not the same as tokenized securities
Tokenized securities — representing ownership of a financial asset on a blockchain — are a separate concept with separate legal and regulatory frameworks. When we refer to tokenization on this site, including in our Payment Credential Tokenization capability, we mean payment-credential tokenization, not tokenized securities.
Where it fits for a growing business
Businesses that store card details for recurring billing, subscriptions, or repeat customers are the most common candidates for this capability, which is planned and subject to availability as described on our Capabilities page.
This article is educational and does not describe the technical implementation, timeline, or availability of any specific tokenization program.