Advantages of Payment Tokenization
Payment tokenization empowers the popularity of digital wallets, as recurring and unscheduled payments are becoming part of the on-demand economy in e-commerce
E-commerce and brick-and-mortar businesses alike can use the convenience of one-click checkouts to their advantage by safely storing a returning customer’s data and enabling them to finalize a transaction with one click.
Subscription payment models allow businesses to better serve their customers while opening up new revenue streams. Tokenization allows businesses to implement recurring payments by saving…
Unscheduled recurring payments
As opposed to regular recurring payments, where the customers agree to a paying schedule, unscheduled recurring payments allow merchants to determine when to charge their customers.
Why is it important for acquirers and merchants?
Contactless payments are seen as great facilitators for customers’ day-to-day purchases and they are seeing increased popularity from both consumers and merchants. Merchants can even abandon POS terminals altogether and switch to app solutions, such as SoftPOS. Why should customers and merchants alike abandon chip & pin and go contactless? Are there any drawbacks to contactless payments?