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 , 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 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.
