The latter is what is intended. I don't understand how you could possibly interpret the sentence as the former. The "end parenthesis" of `JSON.stringify` is denoted in prose by the "into a string". You'd have to write something like
> Let serializedData be the result of JSON-serializing paymentMethod.data, if the data member of paymentMethod is present, or null if it is not, into a string.
to get the former interpretation.
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