CCAvenue

India has more than 300 million smart phone users and this figure is expected to grow by 50% in the next few years, as per some experts. Mobile based internet connection and digital banking have become common features increasing the frequency of mobile transactions and instant online payments. More and more customers are therefore becoming mobile-literate and have started adapting to digital shopping through their mobile phones.

Post demonetization, the use of mobile devices and digital banking methods have increased tremendously. One of the reports suggested that 60 percent of people used their mobile devices to view transactions, check account balances, make bill payments, transfer funds, and for various other banking activities. In one of his statements, Mr. Ramaswamy Venkatachalam, the Managing Director of FIS, India and South Asia, said that more and more Indian consumers want to connect with their banks at their own convenience, at any time and from anywhere.

The concept of tokenization was basically introduced to provide data security to the customers. Each time a customer makes a transaction, his/her payment card details are stored in an encrypted format which cannot be penetrated or hacked. Customers consider tokenization to be very secure as multiple tokens are generated for the same card while payments are processed on different platforms. The number of credit card purchases is estimated to increase at an average of 16% worldwide by 2018, and this is where tokenization fits in. A large number of customers can now confidently transact online through secured processes such as tokenization.

The whole idea of making digital transactions seamlessly is aimed at customer convenience. Each time a customer signs in with his/her card details and a transaction failure happens, it is required for the customer to re-enter the logins along with card or bank details. Transaction failures can happen due to many reasons like incorrect payment options, bank downtime, wrong card details, etc. However, the Retry feature is something that works this out in a totally effortless way. While the customer gets an error message for transaction failure, he is also redirected to an intermediary page that automatically attempts to retry the transaction. The customer gets three attempts to make payment with the same payment options or he/she can choose an alternate payment option.

CCAvenue, the largest payment aggregator operates with a dedicated team of professionals for offering various digital payment solutions to millions of online merchants and ecommerce players. These include tokenization-based services, smart checkout, multiple payment options, easy customization, etc. CCAvenue is also a multi-lingual online payment platform that enhances the customer's experience through secured and reliable digital payment methods.