Payment information

What is payment information?

Payment information refers to the data required to complete a financial transaction. This typically includes a customer’s credit or debit card number, expiration date, CVV, billing address, and in some cases, digital wallet details or bank account information.

Whether purchasing a product online or subscribing to a service, entering accurate payment information is essential to ensure smooth and secure transactions.

Why payment information matters

Payment information is the foundation of any transaction-based business. It:

• Enables successful payments for goods or services
• Supports recurring billing in subscription models
• Helps prevent fraud when used with security tools like tokenization or encryption
• Links customer identity with purchase behavior, supporting better reporting and user experiences

For businesses, securely handling payment information is also crucial for compliance with regulations like PCI DSS.

How payment information is protected

To ensure the safety of payment information:

• Encryption is used to secure data during transmission
• Tokenization replaces sensitive info with non-sensitive equivalent
• PCI compliance sets standards for securely processing, storing, and transmitting payment details

Example of payment information

A customer shops on an online skincare store and adds a moisturizer to their cart. At checkout, they’re asked to enter their payment information, which includes their credit card number, expiration date, CVV, and billing address.

Once they submit this data, the store’s payment gateway like Stripe or PayPal securely processes the transaction. If the payment is approved, the order is confirmed, and the customer receives an email receipt

Driftcharge Tip

Always ensure your payment systems are PCI-compliant and use encryption or tokenization to protect your customers’ data.

Ganesh Pawar

• 

Ganesh Pawar is the founder of Driftcharge, a subscription management app designed to help Shopify merchants streamline and scale their subscription businesses. With a deep focus on solving real-world pain points—like legacy account page support, flexible subscription options, and advanced analytics—Ganesh is passionate about building tools that drive growth and retention.