Cardstream has partnered with Mastercard to introduce the new Click to Pay service to its global customer base.

Click to Pay offers merchants an embedded and optimised checkout system within their existing integrations, eliminating the need for manual card detail entry. This service streamlines the guest checkout experience, allowing consumers to store and manage their card information in a single profile that is updated automatically.

Mastercard has reported that Click to Pay reduces checkout times by 50% and increases acceptance rates by up to 3%. The service is expected to become as prevalent as contactless payments.

As digital transactions become increasingly common, there is a growing demand for solutions that ensure a smooth and secure checkout process. Cardstream's collaboration with Mastercard highlights its commitment to developing technology that meets this need. This partnership marks another significant milestone for Cardstream, following the launch of its PayFac-as-a-Service (PFaaS) in 2023, a pioneering effort in Europe.

The Click to Pay service

One of the primary benefits of Click to Pay is its ability to streamline the checkout process. Traditional online checkouts often require entering card details, billing addresses, and possibly even creating or remembering a password for each merchant. Click to Pay addresses these issues by allowing users to click a single button to initiate the payment, significantly reducing the steps required to complete a transaction. This streamlined process not only improves speed and efficiency but also reduces the likelihood of cart abandonment due to a lengthy or cumbersome checkout procedure.

Security is a major concern for online shoppers, and Click to Pay addresses this with robust security features. The service uses tokenization to replace sensitive card information with a unique identifier, or token, that can be used to process payments without exposing actual card details. This reduces the risk of data breaches and fraud. Additionally, Click to Pay incorporates advanced authentication methods to verify the identity of users, ensuring that only authorised individuals can access the stored payment information.

For merchants, Click to Pay offers several advantages. By providing a quicker and more convenient checkout option, merchants can enhance the customer experience, potentially increasing conversion rates and reducing cart abandonment. The reduced need for customers to manually enter payment information can also decrease the likelihood of input errors and chargebacks. Furthermore, the integration of Click to Pay helps merchants stay competitive by offering a modern and secure payment option that aligns with the evolving preferences of consumers.

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