How Worldpay & Visa Launched Single-Click Checkout Solution
Worldpay, the global payments processing company, has partnered with Visa to introduce Click to Pay technology to merchants in the United Kingdom.
The collaboration enables Worldpay clients using hosted payments pages to activate the Click to Pay feature without requiring additional technical development or integration work.
Addressing Cart Abandonment Issues
Research conducted by Worldpay indicates that 83% of online shoppers expect a one-click checkout experience when making purchases.
The company has also identified that nearly half of consumers who abandon their virtual shopping carts cite excessive checkout steps as the primary reason.
“Online retailers know the problems of the abandoned cart conundrum. In our research, we've found that nearly half of consumers who have abandoned their cart say there were too many steps in the checkout process,” says Pete Wickes, General Manager of EMEA at Worldpay.
“We add value for our clients providing them access to payments innovations like Click to Pay with Visa, and we go a step further by making it as easy as a switch of a button to turn it on without further integration work.”
Enhanced Security and User Experience
The Click to Pay technology represents an advancement in e-commerce payment standards by eliminating the need for manual card detail entry during checkout. This addresses both security and user experience concerns for online retailers.
The solution incorporates advanced security protocols including tokenisation—a process that uses encryption to protect payment information by rendering it unreadable and unusable for unauthorised transactions.
“Online retailers know the problems of the abandoned cart conundrum. In our research, we've found that nearly half of consumers who have abandoned their cart say there were too many steps in the checkout process”
According to data provided by the companies, Click to Pay has demonstrated a more than 10% increase in authorisation rates and an 80% reduction in fraud when compared with traditional manual card entry methods.
Merchants can implement the technology to combat cart abandonment while simultaneously building customer loyalty through a more streamlined checkout process.
Industry Collaboration
The partnership brings together Worldpay, which processes over 50 billion transactions annually across 146 countries and 135 currencies, and Visa, which operates a digital payments network spanning more than 200 countries and territories.
“Visa cardholders globally can now experience the convenience of our Click to Pay solution, and we're delighted to be able to bring it to more merchants and consumers by partnering with a leader like Worldpay,” says Mandy Lamb, Managing Director, UK and Ireland, at Visa.
“One-click shopping online is now the expectation for many consumers and this partnership will help even more businesses in the UK to deliver on this.”
The rollout comes as consumer expectations increasingly focus on convenience and security during the online shopping experience. For UK retailers, the integration offers a way to implement checkout technology without the development resources typically required for such implementations.
The Click to Pay technology adheres to the card payment industry standards for digital commerce, creating interoperability across different payment systems while maintaining security compliance requirements.
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