Store and Tokenize Your Customer's Payment Information
By joining the QwicPay Instant Checkout Ecosystem, you avoid the complexity and high costs of achieving PCI DSS compliance for storing customer payment information. QwicPay takes care of everything, all bundled into a single fee.
What does this mean for you? It means eliminating 80% of checkout friction by allowing your customers to skip the hassle of repeatedly entering their payment details, leading to faster, smoother transactions.
The Power of Payment Data Storage and Tokenization
Storing Payment Information
Firstly, let's clarify what QwicPay means by storing information. Simply put, it means that your customers will have the ability to securely access their payment details for all future checkouts within the QwicPay Instant Checkout Ecosystem—without the hassle of re-entering their information on every site, including yours.
For you, as a merchant, this reduces friction during the checkout process, which helps lower cart abandonment and boosts conversions and revenue. Plus, QwicPay takes on the responsibility of securely storing your customers' payment information, so you don't have to.
This means you don't need to invest time and resources into complex payment infrastructure or hire a team to manage it. Instead, let QwicPay handle the payments and checkouts, while you focus on what you do best - offering the best products to your customers.
Tokenizing Card Information
QwicPay tokenizes your customers' card information, and we'll explain exactly how we do this and why it's incredibly secure.
Imagine your card number is a Rubik's Cube. There are 43 quintillion ways to scramble a Rubik's Cube. Your customers' card number, however, has 1057 times more possible ways to be "scrambled", or tokenized. We use the Rubik's Cube analogy to simplify the concept.
When a customer enters their card number on QwicPay, we have an automated system that “scrambles” it. This means we never actually see the card number itself. Instead, we store a token, which is like a scrambled Rubik's Cube. On its own, the token is useless - there's no way to “solve” it without access to the original data.
To access the original card number, a bad actor would need to breach several layers of ultra-secure, industry-compliant payment servers, access the customer's login credentials, and infiltrate the bank's systems. Not only would they have to solve the "Rubik's Cube" (with a 1 in 1077 chance of success), but they'd also need to bypass the entire ecosystem of security measures protecting the data.
Given the complexity of this process—multiple layers of security at every stage—getting to the original card number is extremely unlikely. Tokenizing card information instead of storing raw data makes it exponentially safer.
So, go ahead and brag about the security of your new QwicPay checkout platform to your customers - it's one of the most secure ways to handle payment information!
If you're impressed with how secure QwicPay is, keep reading about our 3D Secure Authentication feature, which is also included as part of our service.
