Click to Pay: Mastercard Expands Passwordless Digital Checkout in Singaporeby Fintech News Singapore July 10, 2020
As Singapore shifts rapidly to digital commerce, Mastercard introduces Click to Pay a payments solution with an online checkout that that eliminates passwords, protects data with smart security and makes transactions a breeze with just a few clicks.
Mastercard research shows e-commerce and touch-free payments will be enduring habits long after the pandemic passes. According to Mastercard’s Impact Studies in May 2020 – a research survey which looks at SEA countries in regard to contactless payments – 46% of consumers in Singapore reported shopping online more.
Mastercard is broadening the reach of the Click to Pay online checkout solution to Asia Pacific as part of a global expansion with American Express, Discover and Visa. Based on the EMV® Secure Remote Commerce industry-standard, Click to Pay delivers streamlined payments across any digital checkout environment or network.
Deborah Heng, Country Manager, Singapore, Mastercard, said,
“With well-developed infrastructures and a digitally-savvy population, Singapore is a mature market for e-commerce. COVID-19 has further accelerated this trend, with consumers preferring to make contact-free purchases online to fulfil their various needs. More small businesses have also embraced the digital economy so as to continue reaching their consumers and generating revenues during the lockdown and isolation periods.”
“This reliance on e-commerce and digital payments will only continue to grow, and Mastercard’s Click to Pay online checkout experience will make paying online quick, simple and hassle-free for consumers. Merchants implementing Click to Pay will also create a more seamless and secure experience for their customers, with potentially higher conversion rates.”
In Asia Pacific, the Click to Pay expansion includes technical preparations in Australia, Hong Kong, Malaysia, New Zealand and Singapore, with others to follow. Brazil, Canada, Ireland, Kuwait, Mexico, Qatar, Saudi Arabia, United Arab Emirates and the United Kingdom are also among the markets in the first wave of Mastercard’s global rollout of Click to Pay beyond the United States.