Don’t take tokenization easy! While there is a reason why successful rates in each type of transaction differs, card payment depends solely on tokenization. So, when you’re employing card payment but not getting a high successful rate, you have probably not yet activated the tokenization feature.
In fact, there are still a number of merchants who didn’t get any hint on what difference can they experience when they activate the tokenization feature.
Secure 1-Click Payment, a tokenized-empowered web and mobile payments offered by MOLPay has already garnered a lot of success stories from merchants who have apparently activated this feature.
How tokenization worksTokenization works as protecting the cardholder’s details in a tokenized and stored in PCI-Compliance security vault. The tokenization feature provided by MOLPay known as Secure 1-Click Payment sets to help merchant’s business by providing convenience for customers to complete transactions in just a click with high security measure.
Advantages of tokenization
1. High successful rate
The recent records of card payments proves a huge difference between tokenized transactions and non-tokenized transactions. Referring to the record, you can lift the successful rate up till 94% by turning on the tokenization feature, while the highest successful rate that you can get when you don’t turn it on is only 78%.
Moreover, there’s only a few days where the successful rates for all transaction is high and convincing, while most of the days tokenization doesn’t have any problems in keeping the high successful rates to maintain. Hence, it shows that tokenization lets the payment flow to be as smooth as possible.
2. Enabling recurring payments
You can start accepting recurring payments after you activate the tokenization feature. The flexible payment schedule will help you to reduce the risks of receiving and making late payments. You will eventually get to promote a smoother and consistent cash flow in your business.
3. Potential growth in business
Every time you make it easy for your customers to pay, it will be easier for you to gain your profits. Failure to make payments do not only frustrate your customers, but it will make you live with your unnecessary worries as well.
When the nature of using card is ease and convenience, making several attempts to pay will never make sense. To help your customers experience a smooth payment process when using card, tokenization feature must be activated.
As you already know how a feature can help your business, it’s better to activate as soon as you understand before you might probably block your potential to grow.To find out more about payment gateway for your business, contact MOLPay. We are very happy to assist you.