Leading financial services business Cardstream has announced its partnership with Mastercard to roll out its new Click to Pay service to Cardstream customers globally.
Click to Pay gives merchants the option to benefit from an embedded and optimised checkout within existing integrations. This removes the requirements for manual card detail entry and improves the guest checkout experience as consumers can store and handle their cards in a single profile, which is updated automatically.
Mastercard has already seen checkout times reduce by 50% whilst producing increased acceptance rates by up to an estimated 3%.
Click to Pay is primed to become as ubiquitous as contactless payments.
With digital transactions becoming the norm, there’s an increasing need for solutions that can guarantee a smooth and secure checkout process, and Cardstream continues to team up with partners in developing technology to do this.
It marks another exciting milestone for Cardstream Group, which has a back catalogue of recent achievements such as the launch of its PayFac as a Service (PFaaS) last year which was a European first.
Regarding the Mastercard collaboration, Adam Sharpe, who is CEO at Cardstream, comments: “Incorporating Mastercard’s Click to Pay within our ecommerce portfolio will give our customers another competitive advantage. It will enable consumers to have access to their choice of cards on different devices, without having to enter a password or details of the card manually. The Cardstream vision is about leveraging technology to create flowing and high-precision options for our Partners and their customers. This is another way we are doing this.”
Suren Nawalkar, Senior Vice President for Business Development, UK and Ireland said: “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 Cardstream to make sure their customers have access to the very best payments innovation and technology.”
Cardstream has experienced year-on-year revenue growth, with a record-breaking increase predicted for 2024, based on a bulging order book.