This is a term in banking that we keep hearing often in the context of transactions. Tokenisation refers to the replacement of actual card details with an alternate code called the “token” that is unique for a card, token requestor and payment device. That way the card details are protected. The token requestor is the entity that accepts a request from a customer for tokenisation of a card and passes it on to the card network to issue a corresponding token. The cardholder can get the card tokenised by initiating a request on the app provided by the token requestor. The token requestor will forward the request to the card network which, with the consent of the card issuer, will issue a token corresponding to the combination of the card, token requestor, and device.