Click to Pay: Orchestrating frictionless, secure payments for the ‘instant era’
In the early noughties, analysts and industry experts predicted that one day, consumers would be able to pay anywhere, any how and over any kind of device. Fast forward two decades, and today’s consumers are able to jump between paying for a coffee on a physical card terminal, using a PC to book a holiday using a virtual wallet, settling their utilities bill via mobile app and many, many other variations.
The payments revolution has given consumers options earlier generations could never have dreamed of, from purchasing the latest music in an instant for mobile access, or splitting credit purchases for big-ticket items into instalments, with approval received in seconds. However, it has also created a new challenge: how to deliver fast, secure and frictionless checkouts over a wide range of payment methods and channels.
Click to Pay: fast, seamless and secure
Responding to this challenge, the world’s major card schemes have collaborated to create Click to Pay. This innovative solution helps to streamline online purchases for consumers and merchants by pre-populating payment details, eliminating the need for consumers to re-enter card information each time they check out.
Consumers can enrol with Click to Pay by adding their cards via their banking app or the appropriate card scheme. Their card information is then stored securely, enabling them to make payments at participating online retailers, (wherever they see the Click to Pay symbol) which significantly reduces checkout friction, as well as the potential for input error.
The customer’s card and personal information are protected by a solution that combines biometric confirmation factors with device ID technologies to confirm the link between consumer card information stored with a bank and the user’s mobile device. Personal and payment information is also tokenised during the transaction process, reducing the risk of fraud or compromise.
BR DGE’s VP of Commercial, Tom Voaden, met with James Carpenter, Visa’s European Head of Click to Pay, during the recent MPE conference in Berlin for an insightful session about the impact of Click-To-Pay recorded by FF news. During this session, James Carpenter explained why both consumers and merchants are embracing the new solution:
“Merchants love the fact that they can see an uplift in transaction authorisations with Click to Pay, which means more revenue, alongside a dramatic reduction in fraud. Meanwhile, consumers get the rapid, secure and trusted checkout they want – backed by the major payment schemes and their issuing bank.”
Orchestration enables adoption of Click to Pay
Click to Pay combines consumer convenience and fast, secure checkout with tangible benefits to merchants – more authorisations, less fraud, and higher revenues. Getting these benefits to merchants and their customers is part of the role played by payments orchestrators. Tom Voaden, BR DGE’s VP Commercial, says:
“Merchants are looking for the capacity to introduce new functionality like Click to Pay such that it can operate seamlessly alongside their existing payments infrastructure and partnerships. At BR-DGE, part of our role as a payments orchestrator is to bring together innovations like Click to Pay and others, bundled together in a single, simple connection.”
Click to Pay delivers numerous benefits to both merchants and consumers, who have a shared interest in smooth, secure checkout experiences. At a wider level, it’s just one of a number of ecosystem innovations that are enhancing the payment experience in a digital-first, hyper-personalised future. Looking ahead, trust in collaborative solutions like Click to Pay will be essential to their wider use – and partnerships that combine the brand trust enjoyed by a bank or global payment scheme with the simplicity, and deployment expertise of an orchestrator are the best way to ensure rapid and widespread adoption of innovative solutions.
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