Payments are changing. In a time with an Uber for this or a subscription for that merchants need to offer speed and convenience during the checkout. Trial periods, subscription models, 1-click payments, partial shipments, are techniques directed to consumers in order to provide a frictionless and quick payment or subscription. The less effort the consumer needs to repeat a purchase or subscribe to a service the bigger the chances are that they will. To this end, MultiSafepay has created all new features for you to use while keeping all security and safety concerns that come with storing credit card and payment data at MultiSafepay. So that you can focus on providing the best consumer experience during the checkout.
Being Acquirer and Processor for the major credit cards ensures already many advantages for ecommerce retailers, but with these new features we took 3 steps forward! As these topics can be a bit complex we’ve separated them per use case, so if you want to offer subscriptions, validate or update stored payment methods, partially ship orders, use pre-authorization or simplify your checkout, you can read more on tokenization, manual capture or 0-authorization below.
Regardless of your business model, subscriptions and accounts on your webshop are a powerful strategy to stimulate trust and loyalty as well as repeat purchases. On the other hand, it is a delicate process that requires the right tools and services. Most of all, consumers expect simple signups, trial periods or the possibility to update or their existing stored information. This is why, MultiSafepay now supports 0-authorization transactions to allow you to easily onboard and manage recurring transactions. Increase the number of subscriptions, create an easier user flow and stimulate the engagement with our powerful tools.
What is 0-authorization and how does it work?
0-authorization, or zero amount, is an “Account Verification service” for credit cards. It allows merchants to verify the cardholder’s information without charging the consumer card. Normally, it is not possible to verify a credit card without processing an actual payment. It goes without saying that this method is highly disliked by consumers that only want to start a free trial or simply want to add a new credit card to their existing account.
For merchants, the zero amount will work exactly as a transaction with €0.00 value (or without an amount). You will be “receiving” the credit card details and verify them without charging the consumer. On the other hand, it will not look at all as a transaction to consumers! They will not find any transaction in the bank account and will not be charged any amount.
Only when your trial period has ended or when the card actually needs to be charged you’ll already have the valid details of the consumer. This allows you to easily verify the consumer and they simply pay when needed. Easy and transparent.
If you already offer stored payment methods, a consumer can easily update their card data for the next payment with 0-auth. The card will be validated and not be charged, only when it needs to.
Offer free trial periods: with 0-authorization, you can offer free trial periods without charging the consumer but already validating the credit card for future billing.
Increase trust & loyalty: offering simple signups for your webshop’s accounts or subscriptions can determine the success or failure of your program. With the 0 Amount validation, you will be able to “store” the credit card details of your consumers without billing them, stimulating trust in your services.
Increase your subscriber base: the subscriptions with credit card to your website will be free of charge for your consumers. Hence, consumers will be more prone to join your subscriber base.
Update credit card information: your subscribers will be able to update their credit card information (new expiration date, different name and so on) for free.
Add several cards to an account: as the validation is free for your consumers, they will be able to save more than one card in their account and decide which one to use at the checkout!
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