mastercard Y MONEYthe Spanish fintech that simplifies and streamlines digital payments, today announced an agreement to make the technology available to e-commerce in Spain click to pay. A faster and more secure online payment process where customers pay instantly with a single click without the need to enter your card details manually in cases where your card is not stored in the store.
Thanks to this alliance, MONEI will be able to benefit from the innovative Mastercard technology at a time of growth for fintech and offer an immediate, secure and simple digital payment experience to its users.
Mastercard Click to Pay, based on an international standard, allows you to shop without having to create or start an account and with fewer steps in the payment process, by avoiding the entry of the card number or personal information once the consumer has registered. They only have to associate their Mastercard card to Click to Pay and in their next purchase they will be able to pay immediately without having to enter the 16 digits of their card, passwords or fill out long forms.
Paloma Real, general director of Mastercard Spain, explain what “It is essential to offer users an agile, simple and secure online payment process and we are pleased to continue expanding the Click to Pay ecosystem with MONEI. We are convinced that the future of payments depends on optimizing the customer experience and with this solution we take the ecommerce sector one step further”.
Consumers will be able to identify the businesses that have this online payment method available with the logo in their corresponding ecommerce. For businesses, the main advantage will be a lower rate of abandonment in purchases and, therefore, a greater volume of online sales.
Alex Saiz Verdaguer, CEO and Founder of MONEIhas indicated that, “With Click to Pay from Mastercard we reinforce our commitment to help all e-commerce companies to simplify and streamline the purchase process so that they can offer the safest, simplest and most technologically advanced experience to their users..«
Click to Pay Benefits
Currently, millions of Mastercard cards are enrolled in Click to Pay and more than 10,000 merchants around the world* are enabling this option for their customers, who benefit from a simple and secure purchase. The innovative technology, which meets global security standards in intelligent card credential recognition and tokenization, also provides advanced solutions that improve approval rates, reduce false rejects and decrease the possibility of fraud.
With Click to Pay, consumers enjoy a best online payment experienceconsistent and passwordless, which stores payment information securely, recognizes users through intelligent authentication and centrally manages consumer payment information.
Secondly, Issuers support an efficient shopping experience based on international standards. To the Increasing approval rates and reducing fraud boosts cardholder trust and loyalty and strengthens the relationship with users. For businesses, Click to Pay offers, as its main advantage, the possibility of offering faster and smarter payment systemsincreasing its commercial agility.
This new payment technology comes at a crucial time for electronic businesses. And it is that, according to a study by IAB Spain, purchase penetration on-line continues to grow, reaching 78% of Spanish Internet users between the ages of 16 and 70, which represents a total of 24.7 million Spaniards. Consequently, these trends in turn have driven consumers to demand greater speed, flexibility and convenience in the way they make their payments. The Click to Pay method, implemented by businesses such as teepee tent either hello, is synonymous with all of the above. In addition, the latest Report on the State of Payment Methods in Spain carried out by MONEI confirms that this form of payment has an increasing presence in the Spanish market.