In brief: MasterCard Click to Pay finds partners in France
Click to Pay deployment is gathering pace in the French market, driven in particular by initiatives from the major schemes and MasterCard in particular. The American payment giant has just announced the signing of its first 7 partnerships with leading payment service providers (PSPs). A further step towards simplifying online purchasing.
MasterCard has just revealed the names of the 7 PSPs with which it has signed partnerships to accelerate the deployment of Click to Pay on the French market. The 7 service providers are :
- Adyen,
- HiPay,
- Monext,
- PayXpert,
- Purse,
- Viva.com
- Worldline
MasterCard points out that the promise of Click to Pay is to enable consumers to access all their cards when making an online purchase from a smartphone, computer or tablet, regardless of the payment network, without having to enter passwords or card details manually. The principle is simple, based on recognition of the service user who, after registering his or her payment cards in Click to Pay, is then automatically recognized via his or her device when paying at a partner merchant. In terms of security, Click to Pay uses a token instead of a card number, and generates a one-time cryptogram for each transaction.
MasterCard's 7 new partners will now be offering this payment method to their merchants.
Tokenization, the new Eldorado
More generally, Mastercard recently shared its vision of e-commerce and how the company will evolve its online payment services business between now and 2030. The American scheme's objective is clear: to move e-commerce and online payments towards complete tokenization. The aim is to gradually eliminate the need to enter bank details when paying online.
To date, MasterCard reports that one in four MasterCard transactions worldwide is tokenized.