Praxis Tech has introduced a solution for sellers, with which you can make payments in one click.
The new payment processing solution is called Merchant Initiated Transactions (MIT). The press release, which was published by the supplier of products for online transactions, states that this solution eliminates the need to manually enter information for financial operations, which allows optimization of the payment process.
Praxis Tech Technical Director Guy Karsenti stated that MIT is an exciting addition to the already existing payment organization platform. He also stated that he is proud that the company is at the forefront of the continuous development of the payment industry. Guy Karsenti noted that the firm’s commitment to the concept of active participation in the innovation process is a guarantee that customers will have constant access to advanced solutions.
The results of a special study showed that last year in the United States, 67% of small and medium-sized businesses used one-click payments. A year earlier, this indicator was equal to 65%. The trend of growing interest in one-click payments is explained by the desire of the business community for uninterrupted payments.
The active introduction of digital payment methods is due not only to the advantages of these technologies but also to changes in consumer behavior and preferences of buyers regarding the technology of interaction with sellers. Digitalization, which has affected many aspects of human life, has changed habits that business representatives cannot ignore.
MIT from Praxis Tech allows merchants to securely store customers’ payment information. Traders can initiate transactions on behalf of consumers and process payments more easily in the future.
One-click payments on future transactions simplify the payment process. Also, in this case, the risk of errors or delays in payments is reduced. Another advantage is the convenience of payment provided by the absence of the need to enter payment details.
The new one-click payment offer is an addition to Praxis Tech’s expanding line of online payment solutions. Guy Karsenti says that by the end of 2023, the company intends to present several more solutions, including a retry with insufficient funds and recurring transactions.
As we have reported earlier, Singapore and Malaysia Launch Cross-Border QR-Code Merchant Payments.