Click to Pay - All you need to know
Key takeaways
- Click to Pay removes card entry hassle, storing encrypted details securely for a smoother checkout experience
- .Open to all, Click to Pay levels the playing field for everyone, being assessable to users no matter their mobile phone manufacturer.
- Click to Pay is easily implemented by MeaWallet.
What’s Click to Pay?
Essentially Click to Pay is a digital wallet enabled by a scheme (Mastercard, Visa Visa, Mastercard, American Express, and Discover), that allows online savvy shoppers to purchase, without the need to enter passwords, resulting in less friction. That’s it!
Why should you care?
Imagine online shopping without the hassle of entering card numbers at the checkout. No more searching for your wallet, typing out numbers or second guessing if the right CVV has been entered. Also, you no longer need to be concerned if the website is ‘safe enough’ to store all your card details. We’ve all been there! That’s the beauty of Click to Pay! Designed to make online checkout experience faster, easier and way more secure. Payment details stay encrypted and are stored safely with the card provider. Less friction, more action!
Who benefits from Click to Pay?
Click to Pay isn’t just for convenience, it’s for those who are simply exhausted with the cumbersome steps often involved during an ecommerce transaction, including the multiple steps required to enter card details at the checkout. For frequent online shoppers, it’s a game-changer, fewer steps, faster checkout and greater peace of mind. And for merchants, Click to Pay isn’t just about happier customers, it’s about lower cart abandonment rates, increased sales and a checkout process that’s highly efficient.
Who’s behind Click to Pay and what’s the vision?
Click to Pay isn’t just some trend. Launched in 2019 and built on the EMV Secure Remote Commerce (SRC) standard, Click to Pay was designed to unify and simplify online checkouts across different merchants. With fewer steps and less repetitive data entry, Click to Pay brings consistency and security to online shopping, making it easier for shoppers to complete their purchases and harder for fraudsters to get a foot in the door.
What about regulations?
Online shoppers love convenience, but they love security even more. With Click to Pay, regulations like PSD2 and GDPR are standard, ensuring safety at every click. Strong Customer Authentication (SCA) means multi-factor authentication steps to confirm user identity. So, when you check out with Click to Pay you might see an extra security step like a one-time password or biometric verification. Combined with GDPR protections, Click to Pay brings both speed and peace of mind to online payments. If you’re interested in learning more about mandated Click to Pay regulations, check out our article on Click to Pay – Time to get onboard.
How does MeaWallet make Click to Pay easy?
Here’s where MeaWallet steps in. We take the complexity out of Click to Pay, making it easy for banks and merchants to integrate it into their existing ecommerce setups. MeaWallet’s platform supports the EMV SRC standard, tokenized transactions, so you get all the benefits without the headaches. With MeaWallet, implementing Click to Pay is fast and requires minimal effort, especially if you already use our SDKs for push provisioning.
Why Click to Pay is a big deal
Click to Pay is shaking up the online shopping experience by merging speed, security and convenience in one click (or two). The introduction of an ecommerce-first style digital wallet is a very clear signal that challenges the status quo of big tech who have largely dominated the digital wallet space, especially in Europe. For shoppers, this is a win-win, as Click to Pay is not tied to any tech giant, users will not have to worry about digital wallet compatibility, depending on what model phone they have.
For issuers and merchants, Click to Pay levels the playing field, offering an inclusive, hassle-free payment option that doesn’t force users into a closed-off ecosystem. Think of it as the friendly neighborhood digital wallet, open to everyone and ready to compete.
FAQs
Q: How does Click to Pay improve the checkout experience compared to traditional online payments?
A: Click to Pay removes the need for multiple data entries and login steps. It offers a smooth, consistent process across different websites, making the experience faster and reducing the likelihood of cart abandonment.
Q: What role does security play in Click to Pay?
A: Security is at the core of Click to Pay. By tokenizing transactions, Click to Pay minimizes the chances of fraud. In Europe, it also aligns with PSD2 regulations, adding layers of security through Strong Customer Authentication (SCA).
Q: What’s the main vision behind Click to Pay’s launch?
A: Click to Pay was designed to unify and simplify online payments, making checkout faster and more secure for everyone. Its goal is to replace manual card entry in ecommerce, similar to how contactless payments have transformed in-store purchases.
Q: Who developed Click to Pay, and what makes it different?
A: Click to Pay is backed by major schemes like Visa, Mastercard, American Express and Discover, and is built on the EMV Secure Remote Commerce (SRC) standard. This makes it an industry-wide solution that works across merchants, giving shoppers a safe and easy way to pay.