Every token and reissue of a card resolves to one 29-character reference, so velocity rules and loyalty programs count cards correctly.
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A stable 29-character ID tied to a single card and every token minted from it, so one card stays one card across reissues and wallets.
Tap it on a phone, type it at checkout, dip it at a terminal, or bill it on file, each one looks like a different number. The Payment Account Reference is the single 29-character ID that proves they are all the same card.
Four instruments arrive, an Apple Pay token, a Google Pay token, an e-commerce token, a physical card. Without a PAR your counter reads four different cards. Resolve the PAR first and it reads what is true: one card. That is the difference between a rule that works and one that fails silently.
Watch the exact same controls pass or fail depending on one thing, whether you can see the PAR.
One PCI-exempt thread through every token, wallet and reissue: identity without ever touching a PAN.