Digital Checkout Expansion in Asia Pacific: Mastercard Enhances Secure and Convenient Online Shopping for Consumers
Mastercard is expanding its digital commerce offerings with the introduction of Click to Pay in the Asia Pacific region. This move is part of Mastercard's commitment to offer the best digital experience everywhere and in every way.
Click to Pay is designed to simplify transactions with just a few clicks, eliminating the need for passwords and protecting data with smart security. The solution is expected to drive customer satisfaction and loyalty for merchants by offering a simpler, smoother digital checkout experience.
The shift to digital commerce in Asia Pacific, accelerated by COVID-19, has made maximum convenience a priority for shoppers. With the expectation for on-demand goods and services increasing, e-commerce and touch-free payments are expected to be enduring habits post-pandemic.
Click to Pay lowers shopping cart abandonment and gives customers the choice of paying with various card brands. It is expanding globally, including in Asia Pacific, with American Express, Discover, and Visa. Mastercard is collaborating with payments service providers, gateways, and acquirers to expand Click to Pay acceptance beyond existing merchants.
Several fintech companies such as TransferWise (now known as Wise), which partners with Mastercard to issue debit cards globally, are participating in the global expansion of Click to Pay. Digital financial companies like Aion, DiPocket, Modulr, Octet Europe, and EedenBull that collaborate with Mastercard to offer Open Banking and commerce solutions in Europe are also part of the initiative.
Tim Fletcher, Senior Vice President of Acceptance Product Management at Mastercard, stated that simplicity and security are at the heart of Click to Pay. The solution is based on the EMV® Secure Remote Commerce industry standard, allowing for streamlined payments across any digital checkout environment or network.
Consumers in Asia Pacific are using less cash and see the shift to touch-free payments as a lasting trend. Mastercard's digital mission to deliver fast, frictionless, and secure payment options to consumers and merchants started before COVID-19, but the pandemic has accelerated this shift.
For more details about Click to Pay, visit mastercard.com/whyclicktopay. Mastercard has included technical preparations in Australia, Hong Kong, Malaysia, New Zealand, and Singapore, with other markets to follow in its Asia Pacific expansion.
As the world becomes more digital, Mastercard is committed to making online transactions as seamless and secure as possible. With Click to Pay, they are taking a significant step towards achieving this goal in the Asia Pacific region.
