This alliance is set to push customers’ tokenised card details from its mobile app to Click to Pay and digital wallets. Moreover, the collaboration with Mastercard aims to help merchants and increase consumer adoption by enabling Dubai First cardholders to benefit from Click to Pay services at checkout.
As the official announcement shows, consumers seek more and more flexible payment options. Moreover, the rise of digital payments could be a game-changer for the market, leading to a new wave of industry dynamics as the battleground shifts from card-based competition to transaction-based competition. In response to this demand, Mastercard continues to develop and provide a wide range of technologies. Therefore, by partnering with Dubai First, the company aims to deliver a consistent checkout experience that drives top-of-wallet behaviour, in compliance with the EMV Secure Remote Commerce industry standard.
Through this collaboration, Mastercard's Click to Pay tokenises card credentials and replaces a card’s primary account number with a unique alternative number or token, to provide a simple and secure online shopping experience. In addition, cardholders can enjoy a guest checkout without the need to manually enter card information and without storing the actual card number with the merchant.
Rooted directly within checkout, this solution allows all Dubai First cards to be managed in a single and secure profile, making it faster and easier for cardholders to check out using intelligent recognition. Within this, returning users are automatically identified through their device or email. Thus, by integrating Click to Pay into online payment flows, Dubai First eliminates the need for consumers to manually enter their card details.
This Mastercard’s solution is set to make the purchase process more intuitive for users, enabling choice, control, and simplicity at checkout. Click to Pay provides enhanced payment security for the bank’s customers through tokenisation and authentication, resulting in higher approval rates while reducing the number of false declines and preventing fraud. In addition, Mastercard’s Click to Pay solution allows all details to get immediately updated if the card is reissued by the bank.
Mastercard’s suite of remittance-related products offers payments by leveraging its global network, to be delivered to bank accounts, digital, and mobile wallets, cash, and cards in multiple regions of the world. The company had several partnerships and product launches in the last couple of months, covering several different geographic areas around the globe, including the UAE and MENA regions.
In December 2023, global card issuer Mastercard partnered with UAE-based Further Ventures, a venture-building and investment company, to accelerate next-generation payments and asset management infrastructure. The partnership was announced on the sidelines of the Further Network Summit, aiming to accelerate the development of local fintech capabilities in the UAE and the wider MENA region and leverage its advanced payment solutions, platforms, and technologies to support the digital economy.
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