Reduce costs, minimize fraud, and improve the customer experience with our essential efficiency tools. Features like card tokenization, advanced routing, and fraud protection ensure your business and customers are in good hands
Efficiency Boosting
The essential payment gateway efficiency tools you need
Card tokenization
Card tokenization is crucial for payment gateways to secure sensitive information, increase convenience, comply with regulations, reduce costs, expedite transactions, and enable global payments
- Encrypt and store sensitive data securely to minimize fraud and data breach risk for customers and merchants in PCI DSS compliance
- Allow customers to make repeat purchases without having to re-enter their payment information, providing a hassle-free experience
- Reduce the cost of processing and storing sensitive data, as well as the likelihood of chargebacks and fraud
- Allow payment processing to happen more quickly, enabling merchants to process more transactions in less time
Multi-processing
Transferty’s ability to directly integrate with multiple acquiring banks enables streamlined payment processing and optimized transaction handling through the use of routing and cascading features
- Improve transaction success rates by routing to the acquirer with the highest approval rate for that particular transaction
- Reduce decline rates by instantly rerouting a transaction to another acquirer in case it’s declined by the first one
- Use a reliable, robust and non-failing payment processing system to avoid disruptions and process payments efficiently
- Improve scalability by handling a larger volume of transactions, enabling businesses to grow and meet customer demands
Currency conversion
With currency conversion, merchants can accept payments in multiple currencies and automatically convert them to their local currency, reducing the need for manual intervention and streamlining the payment process
- Expand your customer base by accepting payments in multiple currencies to reach customers in different countries and regions
- Streamline your payment process by automatically converting payments made in different currencies to your local currency
- Improve your customer experience by offering the ability to pay in their preferred currency and encouraging future purchases
- Use currency conversion to position your business as a global player and stay competitive in your industry
Advanced routing
Advanced routing optimizes payment workflows, reduces transaction times, and lowers the risk of failed transactions. Merchants benefit from intelligent routing algorithms and customizable rules
- Optimize transaction processing time by selecting the most efficient processing routes and cascading for each transaction
- Improve transaction success rates and reduce chargebacks by minimizing the risk of failed transactions
- Maximize profits and reduce costs by selecting the most cost-effective processing routes and balancing traffic in percentage or by traffic volume
- Tailor routing rules to your business needs and preferences, factoring in customer, card, and geography for optimal transaction processing
Fraud protection
Safeguard your business and customers with our fraud protection tools. Our algorithms and monitoring detect and prevent fraudulent transactions before they can cause any damage
- Utilize tokenization and encryption to safeguard sensitive customer data and prevent unwanted access to it
- Flag suspicious transactions for review or decline by setting up fraud monitoring rules with a wide range of parameters
- Take advantage of fraud alert notifications to stay informed and prevent future fraud attempts
- Ensure data protection with 2-factor authentication, role-based access, activity logging, and session management
Discover how you can maximize your efficiency and stay ahead of the competition today
Our tools are designed to optimize your operations and save your valuable time and resources. Take the first step towards a more efficient future and try our tools!
FAQ
Frequently Asked Questions
Here you will find the answers to commonly asked questions. If you can't find the answer on your question or need any further information, please, feel free to contact our sales team
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What is routing in payments?
Routing is a method used in payment processing to ensure that transactions are processed efficiently and cost-effectively. Routing refers to the process of directing payment transactions to the most cost-effective payment processor based on factors such as transaction volume, currency, location, and more
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Does card tokenization make the payment process more efficient?
Yes, card tokenization can make the payment process more efficient. When card tokenization is implemented, sensitive card data, such as the credit card number, is replaced with a unique token. The token can be used for future transactions without the need for the customer to re-enter their card information each time. This can reduce friction and speed up the checkout process, while also providing an additional layer of security
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Why do merchants need tokenization?
Merchants need tokenization to reduce the risks of customer payment data leakage. Tokenization replaces sensitive payment information with a unique token that cannot be used by hackers to steal payment data. By removing payment data from their environment, merchants improve their security and reduce the reputational and financial risks associated with data leakage
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Who can save cards?
Card data can be saved by various entities involved in the payment processing chain, such as card networks, card issuers, payment gateways, and other payment service providers. Transferty payment gateway do so in a secure way using technologies like tokenization and encryption. Tokenization replaces sensitive data with non-sensitive placeholders called tokens, while encryption transforms data into an unreadable format for confidentiality. Ultimately, it is the responsibility of merchants to ensure that their customers’ payment data is protected, and they should choose payment providers who prioritize data security and comply with industry standards such as PCI DSS
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Are tokens vulnerable to cyberattacks?
To answer this question, we will explain step by step how tokenization works:
- The customer enters payment information on the merchant’s website or app
- The payment information is replaced with a unique token from the Transferty payment gateway
- The token is provided to the merchant for selling goods or services and to the acquirer bank for validation with Transferty payment gateway
- The transaction is then processed without using the customer’s payment information, after approval
The token is a meaningless string of characters that is of no use to hackers attempting to steal payment data or access the customer’s bank account. Therefore, even if hackers were to steal a token, they could not use it to withdraw money from the customer’s bank account or steal their payment data
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Would tokens work if the customer’s card was replaced, renewed, or reissued?
No, in such a case, the customer should create a new token on the merchant’s platform
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How automatic currency conversion can benefit my business?
Automatic currency conversion can benefit your business by allowing you to expand your customer base and increase sales in foreign markets. By offering the ability to pay in local currency, you can make it easier for customers to understand the price of your products or services and avoid confusion or uncertainty caused by currency exchange rates. Additionally, automatic currency conversion can help reduce the risk of currency fluctuations and currency conversion fees, which can improve profitability and reduce costs. Overall, automatic currency conversion can help improve the customer experience and increase sales while also providing operational benefits for your business
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What is dynamic currency conversion?
Dynamic currency conversion is a payment gateway feature that allows customers to pay for goods and services in their own currency, regardless of where the merchant is located or what currency the merchant accepts. This feature enables the payment gateway to automatically convert the transaction amount into the customer’s local currency at the time of payment, using the current exchange rate
Overall, dynamic currency conversion can provide merchants with a competitive edge in global markets, as it allows them to offer a more seamless payment experience for their customers while also generating additional revenue
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What are the advantages of dynamic currency conversion?
The lock of the exchange rate at the moment of purchase helps reduce the extra fees for customers
The conversion rate, price in the currency of the merchant, price in the currency of the customer, and fee are shown to the merchant in each converted transaction, which makes the process of dynamic currency conversion more transparent and clear