We’re excited to announce a brand new feature. As you may know, we released recurring billing earlier this year, and because we never stop bringing you the best features, we’ve now released card authorizations for recurring billing. This feature allows our merchants to authorise a customer’s card for future payments without the customer having to make any initial payments.
What makes this feature possible? A technology called tokenization. This is a term you may have heard being thrown around. To put it simply (well as simple as we can), tokenization is a process where sensitive payment information from a customer (like credit card details) is replaced with a unique token. This token acts as a digital identifier and allows customers to make purchases on the go without having to enter their payment details for every purchase. We use this technology to offer our merchants seamless payment processing for their customers.
Our card authorization feature can be implemented for a number of scenarios, including App purchases, single click payments, or offer your customers the first month free on your subscription products. For app payments, card registrations can be incorporated during the signup process meaning that everything is ready to go whenever the customer needs to make a purchase. The single click experience can be achieved by allowing the customer to authorise their card to be used for future purchases, no need for the customer to enter their payment details each time. They can merely check out with a single click.
Online shopping is becoming more and more prevalent in South Africa. Online shoppers are needing faster, on-the-go payment solutions. At PayFast we use technology like tokenization to provide these solutions to our merchants who can, in turn, provide a faster shopping experience to their customers. Experience a little spoiling you over this festive season.