Bank of America Merchant Services, a joint venture between First Data and Bank of America, provides payment solutions by combining the technology and innovative products of First Data with the relationship strength and prominent global brand of Bank of America. Bank of America Merchant Services delivers payments, commerce, security, and advice through more than 100 products and services to merchants of all sizes. In fact, Bank of America Merchant Services is the number one-rated electronic payments processor in the industry with more than 300,000 active merchants processing more than 13.5 billion transactions annually.
In recent years, tokenization and encryption have become two of the leading technologies for the protection of sensitive payment card data. In fact, tokenization has become such an important means for merchants to protect data post-authorization that the Payment Card Industry (PCI) Security Standards Council (SSC) is considering whether tokenization should be included in an upcoming version of the PCI Data Security Standards (DSS).