What is tokenization in eCommerce and how does it work?
Tokenization in eCommerce is the process of replacing sensitive payment information with a unique identifier or token. This helps protect customer data during transactions.
Why is tokenization important for online shopping?
Tokenization is crucial for online shopping as it enhances security by minimizing the risk of data breaches and fraud, ensuring customer trust.
Can you explain how tokenization improves payment security?
Certainly! Tokenization improves payment security by ensuring that actual credit card numbers are not stored or transmitted, reducing the chances of theft.
Are there any downsides to using tokenization?
While tokenization greatly enhances security, it can introduce complexity in payment processing and may require additional integration efforts.
What are some examples of companies using tokenization?
Many companies, including major retailers and payment processors like PayPal and Stripe, use tokenization to secure transactions and protect customer data.
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