Cooperative Bank of Cape Cod Launches Tokenized Transactions

HYANNIS – The Cooperative Bank of Cape Cod has launched Apple Pay, Android Pay and Samsung Pay compatibility this summer for their debit cards.

Electronic wallet payments have become increasingly popular and tokenization enhances the security of online and mobile transactions.

Tokenization replaces information like a 16-digit card number with a unique string of digital account numbers called tokens.

The tokens help prevent fraud by protecting sensitive account information with additional layers of security and authentication. If there is a data breach using tokenization, criminals would likely only get useless information.

“Our customers’ financial security is of vital importance to us,” said Lisa Oliver, the President and CEO of the Cooperative Bank of Cape Cod. “We’ve devoted a lot of time and resources to researching and implementing new technologies that help safeguard consumer information. Adding the capability to use tokenized transactions, such as Apple Pay, through our debit cards will continue to increase that safeguarding.”

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