Here’s a short, bulleted overview of the benefits of card-on-file tokenisation for merchants:
- Enhanced Security: Replaces sensitive PAN data with tokens, reducing fraud risk.
- Improved Customer Experience: Automatic card updates for recurring payments prevent disruption. Faster checkout for returning customers.
- Higher Authorisation Rates: Tokenised transactions see a higher approval rate than PAN-based ones.
- Reduced Fraud: Significantly lowers card-not-present (CNP) fraud.
- Avoid Visa Fines: Tokenisation helps avoid “behavioural fines” on PAN-based transactions.
- Simplified PCI Compliance: Reduces exposure to sensitive card data, potentially easing compliance efforts.
- Future-Proof Payments: Aligns with the industry trend towards tokenisation.
- Increased Sales: Higher authorisation rates and reduced cart abandonment can lead to increased revenue.
- Better Data Insights (potentially): Linked tokens can offer a unified view of customer transactions.
- Competitive Advantage: Offering modern, secure payment options can attract more customers.
Contact us to get tokenised now!