Payment Token

A Payment Token is a digital representation used in financial transactions, which can refer to two distinct concepts: a cryptographic asset like a stablecoin that represents monetary value on a blockchain, or a non-sensitive data element that replaces a Primary Account Number (PAN) to secure traditional card payments. The former functions as a new form of digital currency for programmable and cross-border settlement, while the latter is a security measure to prevent fraud in e-commerce and point-of-sale environments.