A Card Vault is an essential part of your payment stack. It provides a means of storing and tokenizing your customers’ payment data. In doing this, you can boost your turnover as customers are more inclined to make repeat purchases when they do not have to resubmit all of their payment information.
A payment vault refers to a PCI DSS card vault. This is where the payment information of customers can be securely stored, so when they return to make a purchase they do not have to fill in all their payment data again. It is a proven way to increase return purchases and create customer loyalty.
A secure way to secure payment information in order to build customer loyalty and increase the chances of future transaction, is to have a card/payment vault. This vault securely stores the relevant card information. It is better to secure your details with an independent provider, such as a payment orchestration platform, so the data can be used by all the payment providers you have in your payment stack.
The best way to store credit card numbers is in a third party PCI DSS card vault. This ensures that if you would like to switch payment services providers, you can do so easily without losing your data.
By storing a customer’s payment data, you make it easier for them to make repeat purchases. This lack of friction encourages them to continue using your shop and or services.