One Click Payments - how do they work and what are the benefits?
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Transcript of One Click Payments - how do they work and what are the benefits?
What are one-click payments?Oneclick payments are online payments that can be made with a single click. The
information is saved from a previous payments so that future payments are easier.
This is also known as tokenization and is becoming increasingly popular on sites
such as Amazon, among others. Integrating this payment option into your site can
make it much more accessible for customers as it minimises the need to have the
credit card at hand. It also makes the entire shopping experience easier on an
eCommerce site.
The first time a customer visits a merchant's website and makes a purchase, they areasked whether they would like to register their details. This includes their card details.
If the customer consents to this, the merchant website redirects them to a page wherethey can enter their details. Sometimes, the customer will have the option to entertheir address details here too.
How do one-click payments work?
Once the customer has entered their name, address, delivery details, and anythingelse the merchant needs, they enter their card details and submit the payment.
The merchant stores all the general information that’s been collected, and Axcesstakes the card data the customer has just entered and submits the first payment forapproval.
When this happens, the card data is encrypted and a token is created and assigned tothat particular card within our gateway.
The gateway hands this token back to the merchant for them to store and when thecustomer returns to make another purchase, the merchant simply sends the token,and the amount of the purchase, in the payment request and it is processed
The same process happens for third, fourth, fifth and so on visits.
*N.B. 'Oneclick checkout' is used in reference to CopyandPay integration but 'oneclick payment' is used for server to server integrations.
Yes, although some may be dubious to take these on for fear of security. There is noneed to be however, as we can assure you that this is actually the safer option!
it is much harder for hackers to access the information, as the important data isreplaced by blocks of colour or 'xxx'.
Is it secure?
A merchant can chose whether they would like to ask their returning customers to
validate the purchase by reentering the CV2 from the back of their card.
Oneclick payments can still be performed in conjunction with many risk and fraud
tools, including 3DS, which is a significant point for many merchants wanting to
remove chargebacks from their business model.
Helps a merchant develop customer retention and increases a website's conversions
and therefore increases revenue.
Convenience is becoming the priority for many businesses, and oneclick payments
are a great way to include this ease of access into your site.
Ultimately, it reduces cart abandonment and helps a merchant develop customer
retention.
The benefits