Visa and Worldpay accelerate the deployment of Click to Pay
Visa and Worldpay have recently formalized their new partnership to democratize the "Click to Pay with Visa" solution in the UK. This feature aims to speed up the payment of online purchases by preventing consumers from entering their credit card information manually.
FACTS
- Worldpay customers in the UK, via payment pages hosted by Worldpay, can now activate payment with one click with Visa when making their online purchases.
- Visa Click to Pay is presented as an EMVCo standard allowing consumers to make online purchases in just a few clicks, without having to manually enter the details of their card. To be recognized, they can simply enter an email address or their telephone number.
- The solution is also based on Visa's tokenization technology, which thus increases transaction security.
- Traders already using Worldpay can activate Click to Pay with Visa without further integration or development.
ISSUES
- Respond to request : Visa and Worldpay rely on the results of research conducted by Worldpay to justify the interest of their rapprochement by stating that 83% of e-consumers expect to experience a payment experience facilitate and accelerate with one click. On the other hand, almost half of consumers who drop out of their basket believe they have been pushed because the payment process was too many steps.
- Fight against competition : The signing of this new partnership also represents a way for Visa to combat the growing competition from other schemes that are trying to offer their own Click to Pay solutions (like MasterCard, American Express and CB).
- Highlight the effectiveness of a model : WorldPay and Visa take advantage of the announcement of their partnership to specify that Click to Pay improves clearance rates by more than 10% and reduces fraud by 80% compared to manual PAN entry, according to the analysis platform Visa Navigate.
PERSPECTIVE
- For WorldPay, the signing of this partnership represents a new way to get closer to one of the main US schemes while the payment service provider Signedjust a year ago, his association with MasterCard this time, to improve the tools to fight fraud. On this subject, Visa made the choice of buy-back by putting its hands on Featurspace Last October.
- The new solution presented today by Visa and WorldPay represents in any case an umpteenth proposal aimed at consolidating the use of the card as a means of payment to settle online purchases, in the face of the rise of alternative solutions such as:
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