Ecommpay has partnered with Mastercard to integrate Click to Pay solution across the UK and Europe, Yahoo Finance reported. This collaboration promises to provide merchants and consumers with an efficient payment experience, reducing fraud and improving transaction approval rates.

Eliminating Manual Card Entry

Click to Pay eliminates the need for passwords and manual card entry by utilizing user recognition, network tokenization Tokenization Tokenization represents the process of substituting a sensitive data element with a non-sensitive equivalent, i.e. token, which bears no extrinsic or exploitable meaning or value. In essence, the rights to the ownership of an asset are converted into a digital token. Tokenization can be used to own an entire unit of an asset. For example, one token that represents the ownership of a piece of real estate or to split ownership of a single unity of an asset such as 200,000 tokens, each one represen Tokenization represents the process of substituting a sensitive data element with a non-sensitive equivalent, i.e. token, which bears no extrinsic or exploitable meaning or value. In essence, the rights to the ownership of an asset are converted into a digital token. Tokenization can be used to own an entire unit of an asset. For example, one token that represents the ownership of a piece of real estate or to split ownership of a single unity of an asset such as 200,000 tokens, each one represen Read this Term, and global interoperable standards. This integration enhances the guest checkout process by allowing customers to complete purchases without being redirected or manually entering card details.

Commenting about the collaboration, Liudmila Zhelenkova, the Head of Acquiring at Ecommpay, said: "Not only does Click to Pay allow customers to pay with just a few clicks, it addresses the inconvenience of manual card entry, offering a more efficient and secure payment experience."

“This streamlined process increases transaction success rates and conversion rates while maintaining the same processing costs as regular card transactions, so we expect it to become increasingly popular among merchants.”

Ecommpay has reportedly embedded this technology within its online payment interface to ensure enhanced payment flow for its merchants. Click to Pay is supported by major card networks and aims to simplify online transactions. It offers payments 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 across any device and browser, directly integrating into the checkout flow.

Reducing Checkout Times

Mastercard estimates that implementing Click to Pay can increase approval rates by up to 3% and reduce checkout times by as much as 50%. Thus, the platform aims to reduce interruptions and minimize fraud through secure encryption.

Most recently, Mastercard has collaborated with companies globally. In May, the payment giant partnered with Access BankGroup, a Nigerian multi-national bank, to facilitate cross-border payments. The two companies unveiled a new solution to enable businesses and consumers across Africa to complete international transactions.

Mastercard also joined forces with CrediMax, a credit card issuer in the Kingdom of Bahrain, to provide a payment solution. The checkout solution allows customers to complete purchases across various devices. It aims to save time and reduce the likelihood of errors by eliminating the need for manual password entry.