Guide to BML tokenization payment in MIRAconnect has been published
Guide to BML tokenization payment in MIRAconnect (MIRA M853) has been published on MIRA website.
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Guide to BML tokenization payment in MIRAconnect
1. Payment Tokenization
Payment tokenization is a security technique used in the field of payment processing to enhance the security of sensitive payment card data, such as credit card numbers, during transactions. It involves substituting the actual cardholder data with a unique token that holds no inherent value.
This token can be used for transactions without exposing the original card data to merchants, payment processors, or other entities involved in the payment process. Taxpayers who have appointed a third party such as an accountant to fulfill their tax obligations can make payment via the payment token, without sharing their card data with the appointed third party.
It also facilitates convenience as taxpayers can make instant payments via the payment token, without further authorization via One Time Passwords (OTPs), or an authenticator.
The token is only available in the MIRAconnect account of the taxpayer who initially created the payment token. It can be removed from the respective MIRAconnect account at any time.
The option to make payment via token is currently available only for the Bank of Maldives (BML) payment option.
This is a step-by-step guide on how to: create the BML payment token in MIRAconnect
make payments via MIRAconnect using the BML payment token
remove a payment token from MIRAconnect
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