Brazil and Mexico are among the first markets to start technical preparations to implement Click to Pay
Mastercard announced today it is beginning technical preparations to bring Click to Pay online checkout – based on the EMV® Secure Remote Commerce industry standard – to Brazil and Mexico.
“Bringing a simpler and safer experience to consumers when shopping online has never been so important. With Covid-19, consumers have been changing their shopping behavior, drastically accelerating e-commerce in the region. And there is no sign there will be a shift on this trend moving forward”, says Walter Pimenta, Senior Vice President, Products and Innovation, Latin America & Caribbean region.
Currently, several ecommerce sites feature a myriad of checkout buttons, which can be difficult for merchants to manage, and confusing for consumers. As the prevalence of ecommerce has grown, Click to Pay now helps to address an increasing need for a consistent, simple user experience and for stronger protection of payment information across in digital commerce.
Click to Pay aims to make the online checkout simple and secure for consumers across web and mobile sites, mobile apps and connected devices by replacing time-consuming key entry of personal account numbers and information at checkout. The advanced digital checkout solution mirrors the consistent, interoperable checkout experience in physical stores – with one terminal to accept all card payments. Consistent with the goal of interoperability, the vision for the future is that Click to Pay will provide consumers a streamlined experience across any digital checkout environment or network.
For merchants, that means a more efficient checkout solution that will help reduce shopping cart abandonment rates and a way to offer multiple card brands for digital checkout in one seamless integration. For consumers, this means greater consistency and fewer steps at checkout, regardless of their payment choice.
Enabling innovative experiences is critical to address today’s digital commerce landscape E-commerce grew 75% in Brazil during May, according to Spending Pulse in comparison with May, 2019
28% of Mexican consumers cite uncertainty about card being compromised as a barrier to shop online 2
In LAC, more than one third of shopping is abandoned in the middle; 74% of Brazilians and 83% of Mexicans mention they would increase online purchase if there were more security 3
EMV® Secure Remote Commerce The EMV® Secure Remote Commerce (SRC) Specifications enable a common consumer e-checkout that promotes simplicity, familiarity, interoperability convenience and trust.
Consumer-facing solutions and programmes based on the EMV® SRC Specifications can be described as Click to Pay. This universal description enables ease of recognition for consumers, and signals that a consumer can confidently transact through an easy e-checkout, regardless of the payment card, digital channel or device they use.
The corresponding icon , described as the Click to Pay icon, signals availability at participating merchants. Alternatively, Click to Pay will be used in text as descriptive language if an e-merchant is unable to visually display the icon.
About Mastercard (NYSE: MA) www.mastercard.com
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.