Mastercard and CrediMax, a credit card issuer in the Kingdom of Bahrain, have teamed up to launch a payment solution powered by Mastercard Gateway. Dubbed Click to Pay, the new checkout solution enables users to complete purchases across various devices. It promises to save time and reduce the likelihood of errors by eliminating the need for manual password entry.

Enhancing Security Measures

CrediMax has implemented encryption and tokenization technologies to safeguard customer data and boost security in online transactions. With these security measures, the company aims to ensure the safety of consumers' personal and financial information in every transaction.

Ahmed Seyadi, CrediMax's Chief Executive Officer, said: "CrediMax is thrilled to be at the forefront of technological innovation by introducing Click to Pay to the market. We understand some of the challenges cardholders face during the checkout process, and our goal is to provide them with a simple, secure, and efficient solution."

Mastercard and #CrediMax join forces to introduce Click to Pay in #Bahrain. This collaboration marks a significant milestone as the first company in Bahrain to implement Click to Pay via #MastercardGateway, granting consumers instant access to their preferred cards on every…

— Mastercard Arabia (@MastercardMENA) May 8, 2024

Recently, the global digital payment Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term firm Checkout.com partnered with Mastercard to enhance online travel payments by reducing costs for travel enterprises. Checkout.com's customers are poised to benefit from the introduction of virtual cards under the Mastercard Wholesale Program. This move is geared towards enhancing efficiency in payments, ultimately leading to higher conversion rates for customers.

This partnership enables travel agents to mitigate inefficiencies and errors, ensuring a seamless transition in customer payments and supplier remittances. The collaboration underscored Mastercard's dedication to supporting the adoption of new payment solutions in B2B travel.

Other Developments

Meanwhile, the National Retail Federation (NRF) recently objected to a settlement between Visa, Mastercard, and merchants, criticizing it as inadequate to address long-standing grievances. The settlement Settlement Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 Read this Term aimed to resolve a dispute spanning nearly two decades involving allegations of overcharging merchants during credit card transactions.

However, NRF perceives the proposed relief as "meager and temporary," with concerns over fairness and lasting impact. The federation deems the proposed reduction in interchange rates by four basis points for three years and overall average rates by seven basis points for five years inadequate.