Limassol, Cyprus, March 22 /PRNewswire/ – Practice Tech Ltd is pleased to announce the launch of Merchant Initiated Transactions (MIT), a revolutionary payment processing solution that offers merchants and their customers a secure, seamless and convenient checkout experience.
With MIT, merchants can now initiate transactions on behalf of their customers, eliminating the need to manually enter payment information and streamlining the payment process. The feature facilitates “one-click payments” for customers and supports most payment processors that use the “Card On File” (tokenization) option, making payments even more secure.
Merchant Initiated Transactions (MIT) are particularly useful for merchants who have high transaction volumes, as they can securely store their customers’ payment information, making it easier to process payments for future transactions. Customers no longer have to enter their payment details every time. This streamlines the payment process for both merchants and customers, reduces the risk of errors or payment delays, and improves the overall payment experience.
In addition to simplifying the checkout process, MIT also offers other benefits such as: B. stronger customer loyalty, higher conversion rates and improved security of card transactions.
CTO Guy Karsenti comments: “MIT is an exciting addition to our payments orchestration platform and we are proud to be at the forefront of ongoing industry development. Our commitment to innovation ensures we continue to provide our customers with state-of-the-art solutions that meet their needs in the dynamic payments landscape.”
He then announced, “MIT is just the beginning. It’s an important stepping stone on our journey to launching even more exciting new products later in 2023, such as: B. Insufficient balance retries and recurring payments.”
Praxis Tech strives to provide merchants with the most advanced and reliable payment processing solutions, and the launch of MIT is a testament to their ongoing efforts to innovate and improve the payment experience for merchants and their customers.
Visit Praxis Tech to learn about other existing integrations and how you can streamline your payments.
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Questions & contact:
Sophie Hannah Eliades,
sophie.e@praxis.tech,
Maria is@praxis.tech