A Tokenized-empowered Web & Mobile Payments

MOLPay has implemented tokenization service for all web and mobile-based payments that are similar to 1-click or 1-touch payment methods.


Benefits

No needs to enter 16-digit credit card number

Simplified checkout process & payment flow

Mobile UI/UX friendly

Higher level of security & compliance standards

Successful transaction rate 93%

Reduce abandoned cart rate 25%


With this new tokenization service, all a cardholder need to do is to enter Card Verification Value(CVV) and One-time password (OTP) to proceed to card payment page after their first purchase (without having to enter again their card numbers). This feature is essential to ease payment processes and provide finer user experience, especially for frequent buyers and mobile device users.

Credentials of the cardholders are tokenized and stored in PCI-compliance secure vault. Cardholders can always request to remove their token from MOLPay and add in a new token to represent another card.
"Tokenization makes it more difficult for hackers to gain access to cardholder's data outside of the token storage system. Implementation of tokenization could simplify the requirements of the PCI DSS, as systems that no longer store or process sensitive data are removed from the scope of the PCI audit."

As online shoppers need not to bring their cards to purchase online through MOLPay's merchant, it provides a layer of convenience to their shopping experience. The accumulation of convenience doesn't only bring loyalty for the business, but ultimately a higher sales volume.