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 0-autohorization, manual capture or tokenization below.
The benefits of recurring payments
Supporting recurring payments without asking the consumer to fill out their payment details is key in the age of convenience and speed. With our new recurring model, you can do just that. MultiSafepay will safely and securely transform the payment details into a reusable token, enabling one-click payments, subscriptions and repeat purchases for your consumers. Lowering the barrier to make a purchase by removing the need to fill out forms and card details and thus improving conversion.
Tokenization in brief
In the payment industry, tokenization is the process of removing all the sensitive card data and replacing it with a token. That is, when a payment occurs a Recurring ID is created and subsequently encrypted as a token that cannot be used to retrieve customer details. The token is associated with a customer and as a result, potential fraud risk is reduced.
Tokenization increases the security level of your checkout process and stimulate customer loyalty and repeat purchases, often resulting in increased conversion.
Accept recurring payments with various payment methods
Even though the tokenization is usually associated with credit card payments, MultiSafepay decided to bring it to the next level! This is why we developed a technology to collect subscriptions with tokenization on a variety of payment methods like iDEAL, Sofort, Direct Debit, Visa, Mastercard, Maestro and American Express.
This technology allows creating the best payment flow possible for your consumers!