Business Wire India - Multimedia: Digest for December 19, 2023

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How Simpl Ensures Safety! Thursday 15 December 2022 09:41 AM UTC+00 The 1-tap checkout industry is growing because of the convenience and simplicity it provides. As the frequency of ecommerce purchases is going through the roof, many feel that the time they are spending in entering or selecting payment and shipping information is too long - one of the key reasons why the rate of card abandonment across industries is as high as 70%. And its safe! Simpl Simpl is a consumer experience platform providing a full-stack solution for e-commerce conversion. Its 1-tap checkout is gaining importance in the recent times, making customers complete a checkout in as little as a single click, maximizing convenience and minimizing friction. Moreover, Simpl's 1 - tap checkout can curtail many new types of cyber frauds that are occurring. There are a lot of fake accounts with real information that are floating around the web, making it difficult to identify whether the account or the account holder is authentic or not. How Simpl ensures safety! Let us understand how online frauds exactly happens. Often termed as triangulation fraud, here a fraudster creates a fake online shop that offers products at cheap prices. These platforms are used to capture credit card data from customers who visit the site. When an order is placed, the cyber fraudster orders the product from the original website or merchant using the stolen card data and sends the product to the customer. The fraudster gets the payment and for the goods and the customer ends up paying twice. Here, Simpl has a special system to keep the transactions safe. It tackles cyber frauds, through their time series prediction models that predicts suspicious transactions. While using Simpl, users do not need to share their bank details with any merchant on the platform. Additionally, Simpl, on request from consumers also provide WhatsApp communications on transactions. Simpl offers instant activation and one tap purchase option. The platform empowers merchants to build trusted relationships with customers. With more than 26,000 available merchants and millions of approved users PAN-India, Simpl envisions creating a frictionless and inclusive digital payments experience for customers that empowers and fosters trust and transparency between merchants and their customers. The solution which Simpl offers not only enables merchants to give customers 1-tap checkout, it also provides buyer protection, and a unique pay-later facility so that consumers feel safe and trusted when shopping online. Through Simpl, merchants can provide consumers with an easy, safe, and intuitive user experience.

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