PayU has launched a real time recurring (RTR) offering, called PayU Xpress, designed to boost security and convenience for both retailers and consumers.
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.
Welcome to world of 2099
The world of 2099 will be unrecognisable from the world of today, but it can be predicted, says one visionary. ARTHUR GOLDSTUCK met him in Singapore.
Futuristic structures tower over the landscape. Giant, alien-looking trees light up with dazzling colours amid the hundreds of plant species that grow up their trunks. Cosmetic stores sell their wares via public touch-screens, with products delivered instantly in drawers below the screens.
This is not a vision of the future. It is a sample of Singapore today. But it is also an inkling of the world we may all experience in the future.
Singapore was the venue, last week, of the World Cities Summit, where engineers, politicians, investors and visionaries rubbed shoulders as they talked about the strategies and policies that would enhance urban living in the future.
As part of the Summit, global payment technologies leader Mastercard hosted a small media briefing by one of Singapore’s leading thinkers about the future, Dr Damian Tan, managing director of Vickers Venture Partners. The company’s slogan “We invest in the extraordinary,” offers a small clue to Tan’s perspective.
“We look as far forward as 2099 because, as a venture capital firm, we invest in the long term,” he tells a group of journalists from Africa and the Middle East. “Companies explode in growth because there is value in the future. If there is no growth, they won’t explode.”
The big question that the Smart Cities Summit and Mastercard are trying to help answer is, what will cities look like in the year 2099? Tan can’t give an exact answer, but he offers a framework that helps one approach the question.
“If you want to look at 81 years into the future, and understand the change that will come, you need to double that amount and look into the past. That takes us to 1856. The difference between then and now is the difference you can expect between now and 2099.”
Click here or on the page link below to read on: Page 2: Soldiers and Health in 2099.
- Arthur Goldstuck is founder of World Wide Worx and editor-in-chief of Gadget.co.za. Follow him on Twitter on @art2gee and on YouTube
Street art goes electric
Kaspersky Lab and British street artist D*Face have unveiled the first-ever “art helmet” design at the Formula E finale for electric cars in New York.
The ‘Save The World’ helmets will be raced by DS Virgin Racing’s drivers, Sam Bird and Alex Lynn, as they traverse the New York street circuit during the final races of the Formula E season.
The announcement signals the first art helmet by a Formula E team, continuing the heritage of art in motorsport and the cybersecurity brand’s commitment to contemporary art, creativity and innovation. D*Face took inspiration from Kaspersky Lab’s tagline, “A Company To Save The World”, and hopes that his colourful work will inspire people to take positive action.
D*Face will announce his first-ever art car design with a custom-made livery for the DS Virgin Racing Team. Its design will be released at the “Art Goes Green” event after Saturday’s race. The helmets and art car are the latest installations in the “Save the World” collection, following a major permanent public mural that was installed in Brooklyn, New York, in May.
D*Face, whose real name is Dean Stockton, said: “It is exciting to work with Kaspersky Lab on this project and create art with a real message of hope for a better future. After all, this is our world and we need to look after it. It will take every one of us to make a real lasting, impactful change. I love the mentality of the DS Virgin Racing Team and that of Formula E by showcasing sport in a way that doesn’t harm the environment, but is still just as exhilarating and fun.
“It is time for us all to stand together and make a change… be that stopping data steals, climate change, plastic waste or using damaging fuels. I want everyone to make a pledge to do one thing that will help make a change.”
As a sponsor of DS Virgin Racing Team, Kaspersky Lab is responsible for protecting the team’s devices against cyber threats. The company sees the technical environment in the global sport of Formula E as the next frontier in furthering its research and development of new technologies to keep vehicles secure in the digital world.
Sylvain Filippi, Managing Director at DS Virgin Racing, said: “The whole team fully supports this great initiative and our thanks got to Kaspersky and D*Face for their collaboration. It’s an honour to have such an innovative artist bring his talents to bear in our team ahead of the season-finale; the car, drivers’ crash helmets and mural all look amazing.”
Aldo Fucelli Pessot del Bo, Head of Global Partnerships and Sponsorships at Kaspersky Lab added: “There is a need for innovation on a global scale, both in contemporary art and in the fast-growing sport of Formula E. Now, for the first time ever, Kaspersky Lab is proudly bringing together the two sectors in an effort to Save the World and unleash creativity, encourage freedom of expression and further innovation.”