There are a bunch of ideas I have to reduce the amount of clicking in quests.
1) After completing a looping quest, there should be "Collect Reward" and "Collect and Repeat" (pretty much your idea)
2) If you click on abort quest (for any quests), normally there are two options to keep quest or actually abort it. If you click on keep quest, count it as accepting it, so we don't have to click on "Accept Quest" after we click on it.
3) Have a third option when a Pay Quest pops up to "Accept and Pay", so we don't have to go back to the quest and pay for it after accepting.
4) Have no confirmation for aborting a looping quest that you haven't started (since you can always return to it, and this is assuming that the first option wasn't already implemented)