When consumers transact with a business online they expect a certain level of security. Security to prevent fraudulent use of their card data. But card security is not a core capability for many merchants ‚ they're focused on delivering a great customer experience. That great experience is built on trust, and merchants must do everything in their power to retain that trust. Processing card data for a transaction presents one challenge for merchants. And storing card data for subscription, recurring, and future transactions presents another layer of security challenge.
So, what if you could reduce security concerns by not storing the card data yourself?
By using a "token" that represents the card, a merchant can rely on a purpose-built vault to securely store card data for reuse -- for instance for subscriptions or through use across multiple gateways.
This tokenization approach reduces the amount of security exposure that a merchant has. And it minimizes the regulatory compliance burden associated with PCI frameworks. That allows merchants to refocus their efforts on what they do best ‚ and scale their transactions.
By diving deeper into tokenization, you can quickly uncover a range of opportunities for reducing security and compliance exposure. In a fantastic article, payments expert David Goodale digs into the topic.