- eCOM Tokenizer of G+D and Netcetera to secure online shoppers' privacy
and boost e-commerce businesses.
ZURICH, SWITZERLAND - EQS Newswire - 26 September 2023 - GPE (Global Payment Europe) and the e-commerce payment expert, Netcetera, are forging an even stronger alliance to elevate the shopping experience for countless customers across Europe and strengthen the trust in the online payment ecosystem. By introducing the beneficial payment technology, network tokenization, powered by Netcetera and the global security technology group, Giesecke+Devrient (G+D), GPE affirms its commitment to remain at the forefront of payment innovation.
Network tokenization is a technology that ensures merchants and consumers can use the latest developments in digital payments. On average, every merchant faces a 6% monthly expiration of their customer accounts, severely impacting the payment flows and the conversion rates. To increase the conversion by keeping the credentials always up-to-date and enhancing the security, GPE introduced card network tokenization using the innovative and award-winning eCOM Tokenizer of Netcetera and G+D. The eCOM Tokenizer acts as an aggregator service, seamlessly connecting GPE's payment gateway, GP webpay, with token services offered by major card networks such as Mastercard Secure Card on File and Visa Token Service. It enables tokenization of the card data for all the Cards on file and Recurring payments.
This step is expected to yield remarkable benefits for merchants, including a 3-5% increase in approval rates, primarily due to better risk scoring and approvals by card issuers. By securely storing and processing customer payment information, the eCOM Tokenizer solution significantly reduces the risks associated with fraud and data breaches.
GPE has witnessed a remarkable conversion rate improvement during the first weeks of operations. This improvement can be attributed to the automatic renewals of the card data in case of lost or stolen cards and the enhanced security features that have reinforced customers' trust. 'It's our responsibility to offer our merchants and online shoppers a secure and seamless experience. Therefore, we once again turned to Netcetera and its card network service to safeguard the interests of our customers and end-cardholders. Together, we lay a solid foundation to future-proof our services against the evolving needs of the market and the 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. Acquirers not adopting this technology will face performance fees for PAN-approved Authorizations.
The role of Network Tokenization in preventing false declines is undeniable, with market predictions suggesting that it will facilitate 85% of all global e-commerce transactions by 2028.
Peter Frick, Manager of Secure Digital Payment at Netcetera, emphasized: 'It's a privilege and an inspiration to serve a valued partner like GPE. As they continue to expand and thrive, so do we. Collaborating with forward-thinking partners like GPE allows us to push boundaries and gain fresh insights continually.' The partnership's mission is clear: to elevate cardholders' experience and pioneer innovative, reliable, and human-centric solutions that enhance every aspect of the online payment landscape.
Hashtag: #NetceteraAG
The issuer is solely responsible for the content of this announcement. About NetceteraNetcetera is a global software company with cutting-edge IT products and individual digital solutions in the areas of secure digital payment, financial technologies, media, transport, healthcare and insurance. More than 2,500 banks and issuers and 170,000 merchants rely on the digital payment solutions and globally certified 3-D Secure products of the market leader for payment security. The owner-managed company covers the entire IT lifecycle, from ideation and strategy to implementation and operation. The balanced combination of the latest technologies and proven standards ensures investment security, from large-scale projects to innovative start-ups. Founded in 1996, Netcetera is a holding company with around 800 employees and is headquartered in Zurich, Switzerland, with additional locations across Europe, Asia, and the Middle East.
Further information:  netcetera.com
About Global Payments EuropeGlobal Payments is a technology and software company providing the world's leading complete commerce ecosystem to businesses of every size. This unique, connected infrastructure serves every dimension of commerce, safely and seamlessly carrying billions of transactions every year.
The Company focuses on innovations which bring to the end customers new user experiences as identification of a customer via payment card, mobile payments or the usage of a standard payment card as a coupon in public transport.
GPE serves banks, merchant acquirers, fintechs and technological companies, petrol downstream companies and large retail chains, mainly across Europe but also in the Asia-Pacific region.
Member of Global Payments Inc. - Global Payments Inc. (NYSE: GPN) is a leading worldwide provider of payment technology services that delivers innovative solutions driven by customer needs globally. It provides a broad range of products and services that allow its customers to accept all payment types across various distribution channels in many markets worldwide. Headquartered in Atlanta, Georgia, with more than 11,000 employees worldwide, Global Payments is a member of the S&P 500 with customers and partners in 32 countries throughout North America, Europe, the Asia-Pacific region and Brazil.
Card Transaction Processor | Global Payments (globalpaymentsinc.com)
 Netcetera AG
Posted by : Media Outreach, Jenny Viewed 0 times
PR Category : Others
Posted on : Wednesday, September 27, 2023 11:00:00 AM UAE local time (GMT+4)
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