Tokenization enables the company to replace sensitive cardholder data with non-sensitive equivalents, known as tokens, that have no extrinsic or exploitable meaning or value. Tokenization would allow the app to store and process these tokens, enabling quick transaction history look ups without exposing sensitive data or requiring decryption each time, offering a seamless user experience and adhering to compliance standards. Encryption, while secure, requires decryption to access the original data, potentially making the process slower and introducing complexities in key management. Format-preserving encryption could maintain data usability, but it doesn't eliminate the need for decryption and is not inherently superior to tokenization for this use case. Salting and hashing make data irreversible and are therefore not suitable for scenarios where the original data must be retrieved.