Comment Re:Why do merchants need to retain CC info? (Score 1) 135
It's my understanding that the CC companies are moving towards what you are talking about (store transaction tokens, not CC details). But the CC companies are very reluctant to really push all the merchants to upgrade their systems.
The merchants, of course, don't want to spend any money updating their systems. And the CC companies can't afford to simply cut off large numbers of merchants that won't upgrade or comply to guidelines.