How Click to Pay is revolutionizing your customers' payment experience

70% is the average cart abandonment rate. Overly long or complex checkout processes, mandatory account creation, lack of trust on the payment page, declined payments—these are all factors that drive shoppers away and cost e-commerce merchants sales!

How can you improve this cart abandonment rate?

Make life easier for your customers by offering a payment solution that combines speed, security, reliability, and trust.

This is where Click to Paycomes in, a new one-click payment standard created by EMVCo and available for Visa, Mastercard, American Express, and Discover cards.

This solution allows users to pay for their online purchases without having to manually enter their 16-digit card number for every transaction or type in a password.

Based on the EMV Secure Remote Commerce (SRC) standard and thanks to its interoperability, this technology aims to standardize and universalize the one-click payment process on e-commerce sites, regardless of the card issuer, merchant site, or payment provider.

How does online payment work with Click to Pay?

For cardholders:

• Card registration: there are 3 ways to create a profile and add cards.
  • First, you can register on the Visa or MC website, depending on the card network.
  • When making your first payment via Click to Pay on a merchant site, if the user is not recognized, they will be able to create an account and save their card to their Click to Pay wallet.
  • Starting in October 2024 and rolling out gradually, new cards issued in France will be integrated into this program, and the "Click to Pay" logo will be visible on the card. You will then simply need to activate the service via your banking app.
  • 💡 You can save multiple cards in your Click to Pay wallet. When you reach the checkout, your saved cards will be displayed. Users can also link a default billing and shipping address to their profile, which will be used automatically for online purchases, further streamlining the checkout process.

• Payment: When the button with the Click to Pay icon appears on the checkout page, it means the merchant offers this payment option. Simply click the "Click to Pay" button to initiate the payment. The process varies depending on the channel:
  • Mobile payment: The device is automatically recognized by an intelligent security system; you just need to confirm the payment.
  • Desktop payment: You will need to enter your identifier (phone number or email) and then confirm the payment by entering an OTP.

            Depending on the payment context, strong customer authentication (3DS) may be required to enhance payment security.

As an e-merchant:

• To accept Click to Pay as an online payment method, you must first contact your PSP or acquiring bank to check the service's availability.
• Integration: With a payment orchestration provider like Purse, there is no integration work required; the payment method is already available and built into the solution. You simply need to activate it and configure the associated merchant information.
• Payment: Add this payment method to your checkout page. At the end of the transaction, payment data is transmitted to the merchant just like any other card payment.
• Reconciliation: Your payment data reconciliation will be handled just like your standard credit card payments.

How does Click to Pay simplify the user experience?

Consumers are looking for simple, fast, and secure payment solutions to make their shopping easier.In just a few months, Apple Pay and Google Pay wallets have seen rapid adoption rates, both in-store and online, quickly accounting for 10% to 15% of payments. The market is ready, shoppers are experienced, and with the general simplification of payment processes, a checkout flow that is too long can drive customers away and lead to cart abandonment.

The Click to Pay solution meets this demand:

• Payment speed: No more need to enter 16-digit card numbers, usernames, or long, complex passwords. An average of 20 seconds saved compared to a traditional payment (and that is under optimal conditions, with the card in hand and the phone ready, etc.). Buyers can also save their default billing and shipping addresses to save even more time.
• Payment security : an environment managed by the issuing bank, a solution distributed by Visa and Mastercard, the user is reassured.
• A harmonized and universal journey : the “one-click payment” solution is becoming universal and is no longer managed by the e-merchant. Regardless of the country, the business sector, the PSP, or the device used, consumers will recognize the “Click to Pay” logo and experience a consistent payment journey across all sites.
• Maintain control over your data: via their Click to Pay profile, users can securely store their card details, add shipping address information, and edit or delete cards.

The benefits of Click to Pay for reducing cart abandonment and securing your e-commerce payments

How can you make payment more integrated into the shopping journey? How can you make it easier for customers to take action? How can you reduce error rates?

Card tokenization via the Click to Pay system addresses these challenges and can help you optimize your e-commerce payments while maintaining secure, PCI-DSS compliant online transactions.

• Increase conversion rates by simplifying the checkout process : one click replaces the steps of entering card details, billing addresses, and shipping addresses.
• Drastic reduction in error rates : zero retries is the goal!
• Liability shift retention: the liability shift from merchant to issuer remains in place, and depending on the context, strong authentication may or may not be required.
• Security management : Click to Pay uses tokenization technologies and advanced security protocols to protect sensitive user information. No card numbers are transmitted through your site.
• Fraud management: registered cards generally belong to known and verified users, allowing for better control over fraud risk.
• The Click to Pay button integrates into the e-merchant's payment page for a unified payment experience that leaves the choice of payment method to the buyer. And via your payment orchestrator, even the integration is just one click away!
• A universal system, where tokenization is managed by Visa and Mastercard. There is no longer any need to maintain a registration and storage system for every merchant site and every PSP. The benefit? If you use two payment providers, you no longer need to worry about where your customer's ID is stored.
• International : already in use in the United States and several European countries, with several million registered users.

How Purse supports you

Purse acts as the bridge between your e-commerce site and the technical complexities of payment solutions. As a retailer, your goal is to close sales while keeping your customers happy and loyal. Getting into the technical details of the payment world and spending months on integration is not your business.

With native Click to Pay integration, Purse gives you access to a full range of payment methods through a single technical integration and a team that deals with payment-related challenges every day. Let us support you, and focus on your core business.

Conclusion

Just as contactless payment became part of our daily lives in just a few years and now accounts for 68% of in-store payments, Click to Pay aims to become the standard for online payments. Given its universality and the native integration of the technology into all payment cards, it is highly likely to succeed!

By 2030, entering 16-digit card numbers to pay on an e-commerce site will be a distant memory... Get in touch with our teams as soon as possible to learn more and join the pioneers who have realized that tokenization is the key payment challenge of the moment.

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