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eCOM Tokenizer from G+D and Netcetera to secure the privacy of online shoppers
and boost e-commerce activities.
ZURICH, SWITZERLAND – EQS newswire – September 26, 2023 –
GPE (Global Payment Europe) and e-commerce payment expert Netcetera forge an even stronger alliance to improve the shopping experience of countless customers across Europe and build trust in the online payment ecosystem. By introducing beneficial payment technology, network tokenization, powered by
Netzetera and the global security technology group,
Giesecke+Devrient (L+R)GPE affirms its commitment to remaining at the forefront of payment innovation.
Network tokenization is a technology that ensures that merchants and consumers can use the latest developments in digital payments. On average, every merchant faces a 6% monthly customer account expiration, which severely impacts payment flows and conversion rates. To increase conversion by keeping credentials always up to date and improving security, GPE introduced card network tokenization using the innovative and award-winning system.
eCOM Tokenizer by Netcetera and G+D. The eCOM Tokenizer acts as an aggregator service, seamlessly connecting GPE’s payment gateway, GP webpay, to token services offered by major card networks such as Mastercard Secure Card on File and Visa Token Service. It allows tokenization of card data for all registered cards and recurring payments.
This step is expected to bring remarkable benefits to merchants, including a 3-5% increase in approval rates, primarily through better risk assessment and approval by card issuers. By
securely store and process customer payment informationThe eCOM Tokenizer solution significantly reduces the risks associated with fraud and data breaches.
GPE saw a remarkable improvement in conversion rate during the first few weeks of operation. This improvement can be attributed to the automatic renewal of card data in case the card is lost or stolen and the enhanced security features which have increased customer confidence. “It is our responsibility to provide our online merchants and buyers with a secure and seamless experience. This is why we have once again turned to Netcetera and its card network service to protect the interests of our customers and end cardholders. Together, we are laying a solid foundation to sustain our services in the face of the changing needs of the market and online shoppers. – commented Vaclav Kerka, Director of E-Commerce Solutions at GPE.
Recognizing the importance of network tokenization, card networks have introduced financial incentives for processing tokenized transactions. Purchasers who do not adopt this technology will have to pay performance fees for authorizations approved by the PAN.
The role of network tokenization in preventing false drops is undeniable, with market predictions suggesting it will facilitate 85% of all global e-commerce transactions by 2028.
Peter Frick, Head of Secure Digital Payments at Netcetera, noted: “It is a privilege and inspiration to serve a valued partner like GPE. As they continue to grow and prosper, so do we. Collaborating with forward-thinking partners like GPE allows us to push boundaries and continually acquire new knowledge. The partnership’s mission is clear: to improve the cardholder experience and deliver innovative, reliable and human-centered solutions that improve all aspects of the online payment landscape.
Hashtag: #NetceteraAG
The issuer is solely responsible for the content of this announcement.
