TCH Token Service Strengthens Account Security

The Clearing House (TCH) has announced the expanded adoption of its Token Service, a next-generation bank account tokenization solution designed to protect the information associated with bank account numbers and help mitigate risks associated with fraud and data breaches across the financial ecosystem.

When a client links their account information with a third party, tokenization replaces sensitive payment account information with a “token,” protecting consumers by concealing their actual bank account numbers so they are not shared. The service, which is available for ACH transactions on the EPN^® network and for instant payments on the RTP^® network, is now being adopted more broadly by banks, setting an industry standard and paving the way for new applications for payments, data security, and fraud risk mitigation.

Click Read More below to see the complete press release from TCH.