During the pandemic period, there is an increase in the volume of e-commerce in our country as well as all over the world. Individuals can have the products they want from their computer or mobile device with a single click with the comfort of their homes. Distance selling has also started to increase in the insurance industry recently. Individuals who want to buy insurance products or renew their policies now do their transactions through mobile applications without going to agencies. Modern sales techniques such as distance selling or e-commerce also pose serious risks for insurance companies. The identity of individuals who want to purchase insurance products, the safety of their contact and credit card information are among those risks. Payten, the R&D company that created Turkey's first virtual POS in e-payment systems and manages the country's largest online payment network, provides services to many sectors including the insurance sector in payment systems, provides insurance against the risks of insurance companies in distance selling. Last month, we, as Hayatim Sigortalı Magazine, made an interview with Payten Turkey Country Leader and Paratika CEO Burak Kutlu. Kutlu says, “We will be the assurance of insurance companies in distance selling”. Stating that they are currently working with 20 insurance companies, Kutlu says that they will continue to support the growth of the insurance industry as an online payment company.
Premium collections are now safer and faster
According to what we learned from Kutlu, the most important added value that Payten adds to insurance companies and intermediaries in distance sales is to ensure that premium collections are made more secure and faster. Stating that they developed a repetitive payment and a 'card storage solution' so that premium collections, which are frequently used in the insurance industry, can be regularly withdrawn from the credit card, Kutlu says that the aforementioned card storage solution serves by keeping them in Payten's secure environment with the 'PCI DSS Level 1' certificate.
Payten also makes life easier for agencies
According to the information we received from Kutlu, Payten greatly facilitates the life of the agencies. The agent directs an individual who wants to buy a new insurance product or renew an expired policy to its website (or the website of the insurance company). The individual enters the identity information and the credit card information from which the premium will be collected on the website, and carries out the transaction, and the collection is done quickly and securely. As a separate alternative, if the agency does not already have an online sales platform, it can receive payments remotely through Payten's Pay by Link service. As part of the cooperation between Payten and the agency, the agency sends a payment link ( Pay by Link service) to the individual who wants to take out insurance or renew his policy. The individual performs his/her transactions safely and smoothly by clicking the link in question and entering the necessary information in the security-certified Payten environment. Individuals also receive secure service without going to the agency, waiting on the phone, and most importantly, sharing their card information over the phone or via e-mail.
Our risk is guaranteed by insurance
Kutlu also stated that they have taken out professional insurance in order to control their own risks while serving customers and said, “We guarantee a part of our risk with insurance companies. Because we take a very serious responsibility and this may have financial consequences. That's why we have to take out our professional liability insurance."
What should be considered when choosing a payment company?
Pointing out that the number of people shopping online in Turkey has reached 37 million, Kutlu stated that this will grow even more. Recommending that institutions and organizations that will receive online payments take a broad perspective when choosing payment companies, Kutlu said, “In addition to the fast and secure execution of e-commerce, I recommend them to have a partner which has an R&D-based business that aims to develop the payments sector, and will provide 24/7 support with its engineers whenever needed.” he says.