The MultiSafepay development department added a new in-house developed technology for PrestaShop 1.7. As of now, it is possible to take advantage of a new feature for your credit card payments called ‘Tokenization’. With the plugin update, you can implement tokenization in your PrestaShop 1.7 online store easily and free of charge. Tokenization is known for improving customer experience during the checkout phase. It is also a useful tool to decrease credit card fraud and stimulate repeat purchases.
What is tokenization?
Tokenization is generally utilized for transactions with credit cards and it works as follows: In short, during the first purchase with a credit card, there is a unique recurring ID generated, which is then encrypted as a token. With this token, it is not possible to retrieve customer information. This significantly reduces the chance of fraud.
The ID is uniquely generated by MultiSafepay, usually expressed as a number. It refers to the credit card details that the consumer provided during the first purchase. The consumer will not need to fill in the credit card information from the second transaction on.
Tokenization is in line with the SCA guidelines, and can be used after the 14th of September 2019. It will also increase your checkout security level and stimulate repeat purchases, often resulting in increased conversion.
On which version of PrestaShop can I use tokenization?
The tokenization technology is now available for both versions of Prestashop 1.6 and PrestaShop 1.7. You can start using tokenization in PrestaShop 1.7 by downloading the latest version on our Documentation Center.