By 2023, U.S. retailers will lose $130 billion each year on card-not-present transactions. Securing payment data is an ethical and legal obligation for businesses today. One of the best ways to make sure that customer data stays secure is with tokenization. Keep reading to learn about how credit card tokenization works and how you can start incorporating it to keep your business secure and PCI compliant.What Is Tokenization?A company can protect its sensitive data from criminal attacks with tokenization. Tokenization is the process of swapping sensitive data for “tokens”, which have no meaning or security risk associated with them. This swap is important because it adds an extra layer of security for the original sensitive data. In the case that a criminal breaches a tokenized…