Most ISVs only see the payment API. Underneath it? A pile of ISO8583 voodoo, refund tricks, token traps, and margin games nobody puts in the sales deck. If you don't understand the stack, you don't know where your money is going.

"Tokenization” gets thrown around a lot in payments - often incorrectly. We're cutting through the noise to explain the difference between vaulting, Credential-on-File (COF), and true network tokenization, and how each impacts interchange, authorization rates, compliance, and recurring transaction performance.