Tokenize to Protect Customer Data
Tokenization is an excellent way to have your cake and eat it too. The customers on your marketplace platform are able to leave their payment information on your site so that they can access it immediately, but you’re not actually holding that confidential payment data on your platform.
You can imagine why this is so important. First, customers want a seamless checkout experience, so they don’t want to take time to enter payment information every time they buy something from you. Second, you aren’t held responsible for the additional security needed to protect credit card information and other types of financial data. If your site is attacked by hackers, there’s no way they can gain access to credit card numbers, expiration dates, etc. You’ll avoid both fines and lawsuits when you decide to work with a payment provider that tokenizes PCI DSS-covered data.