MultiSafepay development department just released the new Magento 1 and Magento 2 plugins. From now on, you can take advantage of a new free feature in your Magento webshop: the tokenization. With the new plugins, implementing the tokenization technology in your Magento webshop is easy and free of charge. With the tokenization tool, you will be able to increase your level of security and stimulate repeat purchases.
Tokenization in brief
When applied to the payment industry, tokenization is generally used for credit card payments. That is, for every credit card payment a unique Recurring ID is created and subsequently encrypted as a token that cannot be used to retrieve customer details. As a result potential fraud risks are reduced.
The Recurring ID is a unique number generated by MultiSafepay that refers to the credit card details provided by the customer upon completing the initial transaction. This means that the consumer does not need to fill in the information a second time.
Tokenization increases the security level of your checkout process and stimulate customer loyalty and repeat purchases, often resulting in increased conversion.
Which plugins are available?
Magento has announced that the version Magento 1 will be supported till the end of 2020. This is why, we created a plugin for the tokenization for both Magento 1 users and Magento 2 users.
If you want to start using the new free technology in your Magento webshop, you will need to download the new Magento 1 plugin version 2.5.0 or the new Magento 2 plugin version 1.6.1. Then, call your account manager to activate the tools necessary for tokenization in your Merchant Control.