Boost revenue and digital payment success with tokenization to enhance security, reduce friction, and improve authorization rates in mobile shopping.
Consumers are increasingly shopping through digital channels, especially on their mobile devices.1 Mobile shopping can be more convenient and offer quick, easy checkout options—but these may come at a cost, both for shoppers and for merchants and acquirers. Digital payments can be less secure, often introduce friction, and can have reduced chances of success from lower authorization rates and compliance risks.
But there are ways you can combat these mobile payments challenges with technology. Tokenization is already a widely adopted solution that helps minimize the security risks and compliance burdens that come with digital shopping. But that’s only half the battle.
Better technology for tokenization
Let’s look at three ways you can leverage tokenization to address all these digital shopping challenges, as well as help you achieve more payment success:
Embrace emerging network tokenization technology.
A major step forward in tokenization technology has been the arrival of network tokens, which are generated by payment networks like Visa. Network tokens can provide better security than standard PCI tokens, can foster online shopping innovation, and improve authorization rates.2
Power proactive payment optimization.
Simplifying tokenized data management and access can give you greater control over and visibility into payment data and transactions. This can help you implement proactive smart routing and help optimize your payment strategy so you can increase authorization rates without additional technical efforts.
Activate seamless shopping.
Tokenization can help you securely store, manage, and update customer data and saved payment credentials, enabling seamless shopping experiences such as one-click checkout, biometric checkout, and subscription payments. These types of payment experiences can be more positive for customers—and help boost your revenue.
Flexibility is key
You’ll get the most out of tokenization by utilizing a solution that addresses security risks and compliance challenges and is flexible and innovative, able to grow with your needs. Our tokenization solution, Token Management Service, can streamline your adoption of network tokens and simplify data management and visibility so you can make more informed decisions. What’s more, it can help you easily integrate and migrate your existing tokens, works across payment gateways and acquirers, and is supported by Visa security, scope, and scale.
Want to learn more?
Our payments experts can share more about utilizing tokenization to make your transactions safer, smoother, and more successful.
1 GDSI report citation when available
2 Visa Analytics Platform 2023. Auth rate is defined as approved authorisations divided by total authorisation attempts based upon first attempt of a unique transaction.
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