Click to Pay - Competitor Profile

Click to Pay - Competitor Profile

  • May 2022 •
  • 14 pages •
  • Report ID: 6196720 •
  • Format: PDF
Click to Pay - Competitor Profile

Summary
Click to Pay is an online payment solution, introduced collectively by Mastercard, Visa, American Express, and Discover in October 2019.The solution - which was developed based on EMV Secure Remote Commerce industry specifications - was initially know as Secure Remote Commerce.

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 these 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 a simple, fast, and secure online checkout experience to online shoppers, allowing users to skip manually entering payment card and other personal details each time they place an order.

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 various markets globally, including Australia, Brazil, Canada, Hong Kong (China SAR), India, Ireland, Kuwait, Malaysia, Mexico, New Zealand, Qatar, Saudi Arabia, Spain, Singapore, 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, Visa and American Express partnered with payment services provider eWAY, enabling eWAY offer Click to Pay payment acceptance with Visa and American Express cards for its merchants in Australia.
- In September 2021, Visa partnered with fintech startup Monei to offer Click to Pay with Visa cards as a payment method for Monei’s partner merchants in Spain.
- In March 2022, Mastercard partnered with restaurant commerce platform GoTab, enabling GoTab’s partner hospitality venues across the US to offer Click to Pay with Mastercard cards as a payment method for their customers.

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