Short answer
Replacement card numbers issued by Visa or Mastercard for a specific merchant, which stay valid when the physical card is reissued.
A network token stands in for the real card number. Because the network keeps it updated, recurring payments keep working after a card is lost or expires, and issuers tend to approve token transactions more often. Some networks also offer lower fees or better fraud protection on tokenized payments.
Tokens are tied to the merchant and processor that requested them, so plan for them in any processor migration. See how to switch from Stripe.
Part of our guide to how to switch from Stripe.
Related terms
- Card account updater: A card network service that automatically updates stored card numbers and expiry dates when a customer's bank reissues their card.