Following this announcement, merchants and businesses will have the possibility to enjoy the same benefits for clients and users that leverage the guest checkout option, as their card details are tokenised at the checkout through Click to Pay. This process is expected to take place without the need to enter card details or be redirected elsewhere in order to complete the purchase.
In addition, both Ecommpay and Mastercard will continue to focus on meeting the needs, preferences, and demands of clients and customers in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industry.
Ecommpay merchants are already benefiting from reduced fraud and financial crime, as well as higher approval rates for their Card on Fine transactions by utilising network tokens for both online and in-app payments.
Click to Pay represents a payment solution that was designed in order to simplify guest checkout by eliminating the requirement for passwords and entering card details manually. The service uses customer recognition, network tokenisation, as well as worldwide interoperable standards to provide clients with a secure checkout procedure. The tool is based on EMVCs standards and is supported by several major card networks, while also offering fast transactions across any device and browser.
By incorporating Click to Pay, Mastercard estimates that traders and businesses can increase approval rates by as much as 3% and reduce checkout times by up to 50%. This will be embedded directly into the checkout flow, removing interruptions to the client journey, as well as reducing fraud through a secure and fast encryption procedure.
The recognition will eliminate the need for users to enter their card details or remember passwords, which will remove barriers to complete purchases and boost conversion, while also reducing user complaints and chargebacks.
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