How tokenization and SRC address challenges in e-commerce

Digital commerce (e-commerce) is still growing much faster than physical commerce and cards remain the most used payment tool in Europe. This digital shift is accompanied by multiple trends. For example, concentration of e-commerce with large merchants and mega commerce platforms is increasing. Regulatory requirements such as PSD2 have a strong impact and mobile will be on par with computers. Digital natives are demanding consumers who expect fast, secure and convenient payment experiences.

These trends pose several challenges for e-commerce payments with regard to security, user convenience and conversion, especially in e-commerce checkouts such as card-on-file and guest checkout. Tokenization and Secure Remote Commerce (SRC) address a variety of these challenges and concerns in e-commerce payments for PSPs and merchants.

Network tokenization through the schemes connects merchants with issuing banks, resulting in various advantages compared to PSP proprietary tokens. It addresses risk/security challenges in e-commerce checkouts, especially for card-on-file. Secure Remote Commerce additionally addresses user experience and convenience in guest checkouts.

Learn how scheme tokenization and SRC help to increase conversion, convenience and security in Silke Hubert’s presentation at MPE 2020. Our payment experts will present how scheme tokenization and SRC can extend the offerings of PSPs/merchants. Go to our event page to learn more:

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