Following this announcement, customers and clients of Visa and Mastercard will be able to shop online faster and easier through the use of Click to Pay, a new one-click payment option, from any device.
In addition, the company will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the local industry as well.
According to the official press release, Romania represents a dynamic ecommerce market in the region, ranking third among the European Union member states in Central and Eastern Europe in terms of ecommerce value, after Poland and the Czech Republic. As one-click payments in local ecommerce registered a significant increase in 2024, especially during the Black Friday campaigns, when they increased from 45% to 63% in the PayU portfolio, the new launch represents an important initiative given that digital payments in Romania are mainly based on card transactions.
In order to meet the needs of ecommerce users, card organisations have developed Click to Pay, representing a product that combines maximum payment convenience with high security standards. PayU's primary goal will be set on the process of allowing merchants to offer increasingly popular payment options to reach as many customers as possible. At the same time, it will also provide Romanian customers with faster and more convenient online shopping experiences that will boost digital commerce in the region.
Click to Pay will simplify the payment process, making it quick and convenient for users. After saving the card details during a payment, future transactions are set to be completed with a single click, regardless of the online store, from any device. In addition, by simplifying the checkout procedure, Click to Pay will also help increase conversion rates by up to 10%, with customers being less likely to abandon their shopping carts.
In addition, Click to Pay is based on the international SRC standard, developed by the EMV Co. consortium of card organisations. This solution also uses tokenization technology, similar to popular solutions such as digital wallets or recurring payments. Through this technology, the actual card details are replaced with a token in order to turn them into an encrypted algorithm and protect client data from fraudulent activities.
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