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A collaboration between payment networks has resulted in a simpler, easier way to shop online.
Until today there have been multiple checkout buttons, which can be difficult for merchants to manage and confusing for consumers. Starting this fall, merchants are able to offer a common click to pay button with network logos.
Four major card networks - American Express, Discover, Mastercard and Visa - announced a faster, smarter, and more secure online checkout based on the new EMV® Secure Remote Commerce industry standard. This technology allows consumers in the U.S. to make card payments faster and easier across digital platforms and connected devices. Shoppers can now click to pay at select merchants. Click to pay will be widely available in early 2020.
The first merchants to adopt click to pay on their websites are Cinemark, Movember, Rakuten, Saks Fifth Avenue, and SHOP.com. BassPro, JoAnn Fabrics, Papa John's, Staples and Tickets.com will join them by the end of 2019.
Today, merchants and consumers are in need of a consistent, simple user experience and stronger protection of payment information across all types of digital channels and cards. Click to pay is designed to address it. This new approach does not require shoppers to create or log into an account. Click to pay mirrors the checkout experience that exist in physical stores - with one terminal and one way to pay irrespective of the retailer.
This new button means lower chopping cart abandonment rates for merchants and fewer steps at checkout for consumers.