Convego® CloudPay eCOM

Payment card authorization rates and growth goes hand in hand: The higher the rate, the greater likelihood for repeated customer transactions, and the higher the business revenue. In a rapidly developing omni-channel environment happening as we speak, where customers are expecting a 360° shopping experience, it will be essential to offer just as flexible payments experiences.

But the online payment process is fragmented and online merchants can store or transmit payment credentials in a variety of ways. Meaning, customers can choose their preferred way to pay for the best experience.  In 2022, Card-on-File (CoF) tokenization is becoming a dominant payment method with 95% of e-commerce payments predicted to be tokenized. Are you offering this?

Convego® CloudPay eCOM in a nutshell

With our optimized Card Lifecycle Management, the network token is decoupled from the funding card for automatic renewals. There is no need for the customer nor the merchant to update any card data. When cards expire it is done automatically. Network tokenization offers significant benefits over proprietary solutions.

  • Higher security as the tokenization goes through a Token Service Provider and each transaction has a cryptogram
  • Network Tokenization covers a variety of use cases such as in-car payments, in-app, and mobile e-commerce payments
  • Convego®® CloudPay eCOM offers multiple payment brands and network tokenization with a single integration, resulting in scalability and convenience
  • Automatic token refresh takes place at card renewal, with no interruption to scheduled payments and no discontinuation of service. Combined CoF tokenization and embedded Strong Customer Authentication (SCA), means that the customer experience will be even more satisfying at the checkout

If SCA is already done when the consumer is logging in to the merchant’s app, the issuer can rely on that authentication. It will not ask again for processing making the payment process seamless.

We call this delegated authentication

  • Because average conversion rate for e-commerce sites is less than three percent, low friction and customer satisfaction related to online payments is crucial. CoF enables higher authorization rates without tampering with security or diminishing the customer experience
  • Competition is one of the top three challenges facing e-commerce today, alongside cybersecurity and order fulfillment. Here the BigTechs have a huge advantage thanks to their existing customer stickiness. But you can still change the game by offer e-commerce payments your customers will love!
  • In 2024, 60% of in-store and online merchants will accept multiple non-card retail payments operated by direct-from-bank-schemes. This makes the enablement of customer centric, easy to use, fast, and yet secure payments of paramount importance. Make this your offer too!
  • By offering secure tokenized e-commerce solutions, your customers payment credentials will always be safe
  • Combined with innovative solutions for seamless and compliant customer authentication will increase conversion rates even further

Download trend report

Boosting e-Commerce

Innovative payment solutions such as PayPal, Amazon, Alipay, and Klarna, all based on satisfying customer expectations, have been gaining significant market share. Traditional payment models have had to make way for new competition in financial services. It’s now time that you take control of your checkout process and cater to your customers.

Related solutions

Convego® CloudPay HCE

G+D’s wallet solution has been conferred the Platinum Award in the Best Digital Wallet category sponsored by Juniper Research. With its easy implementation and simple scalability, it has the potential to win your consumers’ hearts.

Convego® Service Broker

With this token management tool, you can provide a token cockpit for your customers, so they can securely manage the token lifecycle. This solution can also be leveraged as a customer support tool for token lifecycle management.

Convego® CloudPay eSE

Juniper Research awarded our wearable enablement solution with a Platinum Award in its IoT Payment Innovation category. With its OEM agnostic way, the solution conveniently secures payments – regardless of form-factor.

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