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PayU goes recurring

August 29th, 2016
PayU has launched a real time recurring (RTR) offering, called PayU Xpress, designed to boost security and convenience for both retailers and consumers.
PayU_Express_logo

The solution provides South Africa’s eCommerce stores with a platform for their shift to a one-click checkout, offering increased customer engagement and the potential for increased sales through improved customer conversions.

“It is our conviction that shoppers just want payments to “happen” and not to be an integral part of the online checkout experience. With RTR we can achieve this, says Karen Nadasen, Country Manager of PayU South Africa.

“Data shows that where shoppers are able to virtually tap and go whenever they see an item at a retailer they trust, they are more likely to purchase impulse items and keep returning to the same site for further service,” concludes Nadasen. “Online operators have experienced a drop off as significant as 30% due to poor functionality and user accessibility – it is a costly mistake to make.”

One-click checkout services have been implemented by numerous retailers over the past few years, with brands such as Amazon, PayPal and Uber taking advantage of its potential and capability. These merchants long since recognised the value of convenience and the importance of customer experiences in an increasingly customer-controlled world.

Uber’s payment platform uses RTR to accept recurrent payments upfront. For Visa Checkout and PayPal, the solution gives their customers a central stop for all their payment options. Amazon Mobile Payments has been available since early 2016 to overcome the barriers around mobile conversion and, along with one-click and Amazon Payments, is one of the reasons why the company achieved $US107 billion in sales in 2015.

The World Wide Worx Online Retail in South Africa 2016 report has found that online retail in the country is growing at a steady rate and it is expected to reach 1% of the total spend for the first time this year. The fact that shoppers still only spend small amounts may be ascribed to legacy issues hindering adoption, but can ultimately benefit the retailer if frequency of payments increases with the right payment solution in place.

Ultimately, some of the biggest barriers to customer conversion are delays, complexity and security on mobile devices, frustrating input methods. Mobile devices are with people 73% of the time according to Facebook and according to a Google / Ipsos study, 29% of users will switch to another site if the one they are on is too slow.

With PayU Xpress, consumers need only enter their details on their first purchase. The platform becomes their central payment repository for as long as they require. PayU offers additional fraud protection for merchants and consumers as users have the option to activate 3D Secure on a user’s first transaction without having to do it every time. For the retailer, the addition of the PayU Xpress button to their payment page is quick and easy so their consumers can use the feature as needed.

“PayU Xpress delivers a shopping experience which is safe, easy and requires only a single click for authentication,” explains Nadasen. “It is the ideal option for eCommerce stores looking to drive richer engagement and improve conversion rates, and gives returning customers a simple and safe space in which to transact. The system uses a PCI-DSS level 1 certified card tokenization service to assure all users of complete security throughout.”

PayU Xpress has been designed to simplify the checkout experience and bring a high-level of online sophistication to South Africa’s eCommerce culture and its simple system and easy controls will give the online merchant the support they need when it comes to reassuring the careful customer.

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