Click to Pay has been shown to boost authorisation rates by more than 10%[1] and reduce fraud by 80%[2] when compared to manual PAN entry. Recent research from Worldpay found that the majority (83%) of consumers shopping online expect to have a one-click checkout experience. Merchants can address cart abandonment as well as drive loyalty through convenience by making the checkout experience as swift as possible.
With the aim to deliver payments experiences consumers love, Worldpay® has joined forces with Visa, a world leader in digital payments, to bring their Click to Pay payment option to merchants in the U.K. „Worldpay customers using the company’s hosted payments pages can simply turn on Click to Pay with Visa without the need for merchant integration or development.” – according to the press release.
“Online retailers know the problems of the abandoned cart conundrum. In our research, we’ve found that nearly half of consumers who have abandoned their cart say there were too many steps in the checkout process,” said Pete Wickes, general manager of EMEA at Worldpay. “We add value for our clients providing them access to payments innovations like Click to Pay with Visa, and we go a step further by making it as easy as a switch of a button to turn it on without further integration work.”
Visa Click to Pay is an innovative card standard for online payments that advances e-commerce by removing the reliance on manually entering card details, enhancing both security and the consumer shopping experience. The technology brings advanced security features such as tokenization, which uses encryption to further protect a payment by making it unreadable and unusable for unauthorized transactions.
“Visa cardholders globally can now experience the convenience of our Click to Pay solution, and we’re delighted to be able to bring it to more merchants and consumers by partnering with a leader like Worldpay,” commented Mandy Lamb, managing director, U.K. and Ireland, at Visa. “One-click shopping online is now the expectation for many consumers and this partnership will help even more businesses in the U.K. to deliver on this.”
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Worldpay is an industry leading payments technology and solutions company with unique capabilities to power omni-commerce across the globe. Our processing solutions allow businesses of all sizes to take, make and manage payments in-person and online from anywhere in the world. Annually, the company process over 50 billion transactions across 146 countries and 135 currencies.
[1] Visa Net, on merchants live with CTP defined by 1 approved auth in Nov 2023 – Oct 2024
[2] Global Risk Team, Visa Net, CTP Fraud Rates, June 23- May 24
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
