Following this announcement, the collaboration will enable cardholders to complete online transactions securely and quickly, without the need for manual card entry.
Click to Pay is set to reduce friction by optimising authorisation rates by an average of 2.5%, as well as optimising businesses for merchants. Both companies 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.
Click to Pay was developed in order to allow clients to skip guest checkout, bypass fields, and eliminate the challenges of remembering passwords after settling up their Visa card on the issuing Bank’s app. Through the process of eliminating the need to enter their PAN or their 16-digit card number manually, the service will reduce checkout time and optimise customer experience. At the same time, customer data will be securely stored with Visa, ensuring trust and security without the need for clients to store their information on third-party sites.
In addition, users can set up their Visa Payment Passkey to incorporate additional security by using their native device’s biometric capability or screen lock. Individuals will also have the possibility to leverage Passkey for future payment authentication when they check out at participating ecommerce sites.
The ZA Bank x Visa collaboration highlights a growing demand among issuers, acquirers, and merchants for prioritising secure, frictionless, and efficient checkouts in order to increase customer satisfaction with improved shopping experiences. ZA Bank represents the first card issuing bank to enable Visa Click to Pay in Hong Kong and across the region of Asia Pacific, with 11 more markets to follow. Furthermore, Visa is set to continue to optimise customer retail and online experiences, while launching improved commercial success and developments to bank and merchant partners across the region as well.
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