Cardstream, a financial services provider, has partnered with payments giant Mastercard, to leverage its new ‘Click to Pay’ service to Cardstream customers across the globe.
Click to Pay offers merchants the option to benefit from an embedded and optimised checkout within existing integrations. It removes the requirements for manual card detail entry and looks to improve the guest checkout experience as consumers can store and handle their cards in a single profile, which is updated automatically.
“Incorporating Mastercard’s Click to Pay within our e-commerce portfolio will give our customers another competitive advantage,” explained Adam Sharpe, CEO at Cardstream. “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.”
Mastercard has already seen checkout times reduce by 50 per cent whilst producing increased acceptance rates by up to an estimated three per cent. It says it expects Click to Pay to become as ubiquitous as contactless payments.
Bolstering growth
Cardstream explained that with digital transactions now well-established as the norm, there’s an increasing need for solutions that can guarantee a smooth and secure checkout process. It plans to continue to team up with partners in developing technology to ensure this.
The news 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.
Suren Nawalkar, senior vice president for business development at Mastercard, UK and Ireland, also discussed the partnership with Cardstream: “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 payment innovation and technology.”
Cardstream has experienced year-on-year revenue growth, with a record-breaking increase predicted for 2024.
