Click to Pay expanding to new markets in staggered approach

Mastercard , American Express , Visa and Discover are beginning preparations to expand Click to Pay online checkout, a joint venture between the institutions to create a one-click payment method for consumers. Click to Pay “is a service that provides an online checkout that is simple and secure,” said Pablo Fourez, executive vice president of e-commerce at Mastercard. “It works across websites and mobile apps. For the consumer, you don’t need to type in your personal account number, shipping information or email.” Although the companies launched Click to Pay in the U.S. last October, this week they announced plans to expand into 14 new markets. According to Fourez, the companies don’t have a strict timeline but are taking a staggered approach in their global expansion efforts. According to the companies, they plan to expand to Australia, Brazil, Canada, Hong Kong, Ireland, Kuwait, Malaysia, Mexico, New Zealand, Qatar, Saudi Arabia, Singapore, United Arab Emirates and the United Kingdom. Fourez said Mastercard is working with issuing banks to integrate Click to Pay in mobile banking apps. Last month, Citibank partnered with Mastercard so customers could use Click to Pay with online merchants. Click to Pay eliminates the need to input card, address and shipping information when buying online, and the joint venture aims to create a universal standard that accepts all different cards, much like chip readers work with different cards. The solution relies on the EMV Secure Remote Commerce Specifications industry standard. EMVCo is the global organization owned by Amex, Mastercard, Visa, Discover, JCB and UnionPay. Fourez said Mastercard and the other card companies are working to meet compliance and regulations in local markets, and make sure the solution is accessible in different languages. The joint venture works with network partners like ACI Worldwide, Square and Braintree. Click to Pay works with more than 10,000 merchants currently, including Joseph A. Bank, Saks Fifth Avenue and Expedia. See also: Mastercard turns to AR to visualize loyalty benefits One-click checkout is a solution being tackled by both card companies and fintechs. In March, San Francisco-based Fast raised $20 million to grow its one-click checkout solution. Although COVID-19 is enticing more consumers to shop online, Fast has a path to adoption regardless of the pandemic, according to co-founder Allison Barr Allen. “We didn’t plan on these global events happening, and we’ve been really bullish on this [product] for a long time,” Allen previously told FinAi News. “What’s happening now only accelerates a lot of what was happening before.” FinAi News Build , which takes place Sept. 9-10 as a virtual experience, is a must-attend industry event for professionals overseeing financial technologies, product experiences and services. Register here .

Click to Pay expanding to new markets in staggered approach

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