LATVIA | eComcharge uses data tokenisation technology to enable merchants to accept one-click-payments, recurring billings and to safeguard sensitive payment information at the same time. eComcharge, a European payment service provider, sees from merchant statistics that 75% of customers abort the payment because it takes too long and poses hurdles for completion. Tokenization can help to improve merchant sales and the shopper's experience.
Improving Conversion Rates and Customer Experience
Improving the acceptance of online payments and the payment checkout process remains one of the priority tasks for the e-commerce merchants. Statistics shows that 75 % of online and mobile shoppers abort payment. By making the payment checkout easier, merchants can significantly increase the conversion on site and increase the profitability of their business.
Tokenization Simplifies Payment Checkout
Although tokenization was initially intended only for data protection, today it is also a valuable sales and marketing resource. By using tokenisation, basically replacing vulnerable payment information (in this case - credit card details) with a unique identifier - a token, returning buyers won’t have to re-enter their sensitive payment data. Instead they can pay via one-click payments, regular payments or be billed automatically without the shopper's interaction in case of monthly subscriptions for example. And a token is absolutely useless for fraudsters as cannot be used to restore the original credit card details. EcomCharge's solutions bePaid and beGateway offers a set of options using tokenisation to ensure convenient, fast and secure payment checkouts for merchants' customers.
Tokenization Reduces PCI-DSS Costs
Among other advantages of tokenization that are successfully used by many e-commerce companies is getting user information during the registration and/or logging into the account, as well as easy organisation of customer loyalty programs. And, last but not least, tokenization allows the company to avoid the time-consuming PCI DSS certificate obtaining and to reduce the cost of security payments.
eComCharge is a payment service provider, certified in accordance with the requirements of PCI DSS Level 1, a payment solutions developer and a technical integrator of payments. eComCharge cooperates with leading European and international banks, processors and payment systems to provide comprehensive solutions for businesses. Tokenization is one of the key benefits of eComCharge innovative payment solutions beGateway (payment gateway for Internet acquiring) and bePaid (multi currency card payments processing).
Sourced from eComCharge, May 21st, 2014