Competitor Profile: Click to Pay 2024

Competitor Profile: Click to Pay 2024

Summary

Online payment solution Click to Pay was launched by Mastercard, Visa, American Express, and Discover in October 2019. The solution was initially known as Secure Remote Commerce and was developed based on EMV Secure Remote Commerce industry specifications. It was rebranded as Click to Pay in July 2020. The solution is administered by EMVCo, the international association of the six leading card scheme networks (American Express, Discover, JCB, Mastercard, UnionPay, and Visa).

The solution brings four major international card schemes under one banner, creating a huge network of prospective customers who can be served via a single acceptance brand. It provides online shoppers with a streamlined checkout experience, enabling users to make purchases via a single login. This eliminates manual entry of card, billing, and other personal details each time users place an order, which in turn helps reduce cart abandonment rates. Click to Pay is based on token technology, which enhances the security of transactions by turning card details into an encrypted code that is unique to each card.

Following the launch of Click to Pay, Visa, Mastercard, and American Express have gradually migrated their respective proprietary online checkout solutions Visa Checkout, Masterpass, and Amex Express Checkout to the new interoperable solution. Discover also enabled the new service for its customers in October 2020, starting with credit card holders in the US.

Initially launched in the US, the service has gradually been expanded to other markets, including Argentina, Australia, Bahrain, Belgium, Brazil, Canada, Colombia, the Czech Republic, France, Germany, Hong Kong (China SAR), India, Ireland, Italy, Kuwait, Malaysia, Mexico, the Netherlands, New Zealand, Norway, Qatar, Saudi Arabia, Singapore, South Africa, Spain, Sweden, Switzerland, the UAE, and the UK.

The report provides information and insights into Click to Pay including -

• Detailed insight into its business
• Comprehensive coverage of its products and services
• The company's important events and milestones

Scope

• In October 2019, American Express, Discover, Mastercard, and Visa collaboratively launched online checkout solution Secure Remote Commerce in the US.
• In July 2020, Launched in Australia, Brazil, Canada, Hong Kong (China SAR), Ireland, Kuwait, Malaysia, Mexico, New Zealand, Qatar, Saudi Arabia, Singapore, the UAE, and the UK.
• In October 2020, Discover enabled Click to Pay for its credit card holders in the US.
• In June 2023, Click to Pay launched in Kuwait.
• In March 2024, ING collaborated with Mastercard to add Click to Pay to ING´s app and website in Spain.

Reasons to Buy

• Gain insights into Click to Pay business operations and key events.
• Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.