Mastercard Incorporated (NYSE:MA) has recently teamed up with global financial institution ING to enhance the online payment experience for customers through Click to Pay. This feature, currently available on ING’s website, is set to expand to other European countries by the end of 2024.
Utilizing the EMV Secure Remote Commerce industry standard and Mastercard’s security capabilities, the solution offers advanced payment technology for a seamless and secure checkout experience for ING customers. Its embedded nature ensures quick checkout with minimal disruptions. This partnership is expected to boost MA’s transaction volume, leading to increased revenue in the future.
Customers benefit from enhanced security and the convenience of not having to input payment details manually. Click to Pay has already been launched in three dozen markets and presents significant growth potential. Currently, 33% of online transactions require manual entry of payment details. Click to Pay reduces checkout time by 50%, and increased adoption by merchants is expected to drive more transactions. Over 25% of e-commerce transactions are tokenized, indicating a growing trend that Mastercard anticipates further innovation in.
This collaboration signifies the global expansion of Click to Pay by MA. The solution has already been introduced in South Africa, the United Arab Emirates, Saudi Arabia, Qatar, and Kuwait, with more markets expected to benefit from its advantages in the future.
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Author Stephanie Bédard-Châteauneuf 
