Published on 25 Mar 2024 on Zacks via Yahoo Finance

Mastercard (MA), ING Enhance User Experience With Click to Pay

Mastercard Incorporated MA recently announced its partnership with a global financial institution, ING, in a bid to enhance the online payment experience for customers through Click to Pay. This feature is currently available on ING’s website, and MA has plans to expand it in other European countries by 2024-end.

The solution has been devised with the power of EMV Secure Remote Commerce industry standard and Mastercard’s security capabilities. Hence, it offers an enhanced payment technology that assures a seamless and safe checkout experience for ING customers. The embedded nature of the solution ensures the completion of the checkout process with the help of a few buttons and minor disruptions. Through this partnership, MA is expected to gain from improved transaction volume, leading to increased top line in the future.

Customers can benefit from improved security while avoiding the need to input payment details. MA’s Click to Pay has debuted in three dozen markets and has a huge opportunity for growth. As of now, 33% of online transactions are being done through manual entry of cards or other details. Per Mastercard, Click to Pay reduces checkout time by 50%, and hence, greater adoption by merchants will lead to increased transactions. More than 25% of transactions made in e-commerce are tokenized, and MA expects to see more innovation in this space.