Checkout
Checkout refers to the user experience and the process by which customers complete a purchase on an e-commerce website or application. It involves entering payment details, confirming the order, and processing the transaction. Typically checkouts are supported by a specialist Payment Service Provider (PSP) allowing the seller to use an off-the-shelf software to integrate their e-commerce, payment acceptance and banking requirements in a way that encourages a fast and seamless purchase.
Applications
E-commerce:
Reduces fraud in online card payments by verifying the cardholder's identity
E-commerce:
Reduces fraud in online card payments by verifying the cardholder's identity
Advantages
- Enhanced security: Reduces unauthorised transactions by verifying that the genuine account holder is authorising the payment
- Enhanced security: Reduces unauthorised transactions by verifying that the genuine account holder is authorising the payment
Challenges
- User Experience: Additional authentication steps can cause friction and increase checkout abandonment
- User Experience: Additional authentication steps can cause friction and increase checkout abandonment
