What is a Digital Token: Everything You Need to Know

Read this article and learn everything you need to know about the digital tokens! Get all important information here!

About Digital Token

The digital token or based payment system is an improved form of electronic payment system. This new payment system is new and improved as it is rather based on electronic tokens than e-cash or e-cheque. The digital tokens are usually generated by the bank or by some other financial institutions.

The digital token is known as an authentication solution that guarantees secure, easy, and fast access to your bank account. It eliminates the need to have a physical token with you as it easily converts your smartphone into an electronic token.

Once you will successfully install the digital token on your smartphone, you can start using it to generate codes for Authorization and Login.

A lot of people are asking the same questions – Do I really need a digital token?

The digital token is recommended for absolutely everyone. You can easily download the newest version of the mobile app and simply log in with your pin or credentials.

How to Use the Digital Token?

The digital token can be used in two 2 ways:

  • Stand-alone token: By using this mode, you can utilize the digital token as a substitute of the physical token. So, you can use the token as a phone app in order to generate the login code and the feedback during a transaction.
  • Integrated token: This is the second mode of the digital token where you can use the token as a mobile app on your smartphone and you can enjoy a smooth experience as the token guarantees security and safety without provoking unwanted results.

Are Digital Tokens Secure?

We understand that you may worry about the safety and security the digital tokens ensure but we can say that the technology used for these tokens has been tested and it is proven that there are no vulnerabilities. For additional security, the digital token is protected by a 6-digit PIN or Touch ID on devices. For an even better security, the token is limited to one device at a time. In other words, if you install the digital token on some other device (tablet or smartphone), the one on the first device automatically gets deactivated.

Even though the digital token is 100% secure, it is recommendable not to disclose your login credentials to others.

Leave a Reply

Your email address will not be published. Required fields are marked *