Cashflows, the platform that makes it easy for merchants to accept payments, today announces its partnership with Mastercard to offer its merchants Click to Pay.
Mastercard Click to Pay is a simple, secure, and consistent way to make online payments, offering consumers a fast and intuitive guest checkout across devices & browsers. Built on EMVCo standards, Mastercard Click to Pay eliminates the need to manually enter card details or remember a variety of ever-more complex passwords.
With online purchases growing 10% annually, the addition of Click to Pay to Cashflows’ diverse payment stack further enables its customers to eliminate checkout friction, thereby maximising every sales opportunity. Consumers benefit from a simplified checkout process, with Click to Pay eliminating the need to manually enter card details or remember passwords, storing the consumers’ various payment cards online in one Click to Pay profile, securely.
Click to Pay reduces fraudulent attacks by using intelligent authentication and tokenization of payment information across devices. Tokenization transforms sensitive card details into a non-sensitive set of characters known as a "token." This process ensures that personal information is never exposed during transactions.
This is essential to businesses as almost half (46%1) of consumers still have reservations about trusting online merchants to keep their saved card details safe. The addition of Click to Pay to Cashflows’ comprehensive payment stack, including Apple Pay, Google Pay, and PayPal, comes at no extra cost to its customers. In fact, the solution embeds directly into Cashflows’ existing checkout lineup without redirects.
1 in 5 consumers cite a long checkout process or there being too many steps to a payment as triggers for abandoning their cart2. With consumers favouring ease of checkout experience, Cashflows added the technology to its payment options to enable further growth for its merchants.
Cashflows Chief Growth Officer, Paul Clarke, comments: “The eCommerce landscape offers enormous opportunities for businesses, especially those in the mid-market, but perfecting online checkout flows remains a challenge. Surrounded by jargon and complexities, the payments landscape is near impossible for businesses to navigate without a dedicated payment expert.
“At Cashflows, we’re building a fairer, more efficient payment system to help businesses to grow and reach success. Our aim is and always has been, to create payments perfected by people, and as part of that, we’re always exploring how we can enhance our offering to streamline the payments process. Mastercard Click to Pay is a perfect example of this. We're excited to roll out this new offering to our customers and continue challenging ourselves to deliver the smoothest payment experiences.”
Suren Nawalkar, Senior Vice President for Business Development, UK and Ireland says: “Most people still use guest checkouts when they shop online. Click to Pay is a quick and convenient solution which saves the need to remember lots of different passwords. We’re working with our partners like Cashflows to make sure their customers have access to the very best payments innovation and technology.”