A PSP token is a payment token generated by a Payment Service Provider (PSP) to replace cardholder data. It’s typically only usable within the specific PSP’s system, meaning it can’t be transferred or reused with another provider.

What is a network token?

A network token is created and managed by a card network like Visa or Mastercard. Unlike PSP tokens, network tokens are interoperable, meaning they can be used across multiple payment service providers and platforms.

How do PSP and network tokens differ?

The primary difference lies in ownership and portability. PSP tokens are tied to one provider and offer limited flexibility, while network tokens are managed by card networks and are transferable across platforms.