Worldpay and Visa Introduce Single-Click Checkout in the UK
Worldpay and Visa have announced the launch of a new Click to Pay with Visa checkout feature for online merchants in the U.K. The Click to Pay option allows customers to complete transactions with a single click, eliminating the need to manually enter card details, according to a Thursday (March 20) press release.
The feature is available to Worldpay clients that use the company’s hosted payment pages, and Click to Pay can be activated without requiring additional development work from merchants, the release said.
Worldpay research found most online shoppers, at 83%, expect a one-click checkout experience, per the release, and “Merchants can address cart abandonment as well as drive loyalty through convenience by making the checkout experience as swift as possible.”
Cart abandonment, a pain point for online merchants, can be caused by lengthy checkout processes that can deter consumers.
“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,” Worldpay EMEA General Manager Pete Wickes said in the release. In addition to providing access to innovations such as Click to Pay, he said, “we go a step further by making it as easy as a switch of a button to turn it on without further integration work.”
According to the release, the Click to Pay technology incorporates advanced security measures, including tokenization. The process encrypts payment information, making it unreadable to unauthorized parties.
The release cited studies by VisaNet, Visa’s global electronic payments network, that indicate this method can increase authorization rates by over 10% and reduce fraud by 80% compared to manual card entry.
Mandy Lamb, managing director of U.K. and Ireland at Visa, said in the release: “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.”
As PYMNTS reported last month, Worldpay will be acquiring London-based artificial intelligence (AI)-powered fraud prevention platform Ravelin.
Expected to close in the first quarter, the acquisition will bolster Worldpay’s payment solutions, enabling merchants to enhance security and accelerate growth, the companies said in a press release at the time.
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