Sydney, March 27: In a bid to combat rising card-not-present fraud, Mastercard is expanding its tokenized online checkout experience.
By streamlining the payment process and eliminating the need for manual card entry, Click to Pay targets to tackle 90 per cent of online payment fraud in Australia.
Mastercard’s initiative comes as Australians lost AU$608.1 million to card-not-present fraud in 2023. Through Click to Pay, cardholders can securely access and share their payment credentials with retailers, enhancing both security and convenience.
Richard Wormald, Division President, Australasia at Mastercard, emphasizes the importance of securing online transactions.
With Click to Pay, Mastercard sets a new standard, replacing card details with secure tokens, giving users more control over their online transactions.
The Click to Pay technology, already adopted by leading merchants like Domino’s and Skip, seamlessly integrates into the checkout process, reducing checkout time and improving conversion rates for retailers.
Kent Madders, Marketing Director for Australia and New Zealand at Domino’s, applauds Click to Pay for revolutionizing the pizza ordering experience, ensuring swift and secure transactions for thousands of customers.
Bill Bizos, Chief Executive Officer of Skip, highlights the convenience Click to Pay brings to their customers, streamlining the payment process for online orders.
John Lunn, CEO & Founder of Gr4vy, praises Mastercard’s initiative for empowering merchants to integrate Click to Pay seamlessly, enhancing conversion rates and reducing fraud rates in online transactions.
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