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Millions of Australian consumers are expected to sign up to Mastercard Click to Pay by the end of the year.
Mastercard has announced it is scaling up Mastercard Click to Pay in Australia, claiming that its tokenised and embedded online checkout system can beat 90 per cent of all payment card fraud.
Mastercard Click to Pay removes the need to manually enter credit card details, relying on an automatic email lookup alongside two-factor authentication. Cardholders can access their cards instantly and their bank can share the card’s credentials with a retailer.
“With online shopping now the norm, Aussies are becoming more mindful of how and where they share their payment details. It’s a bit like handing over your house key every time you enter your card info, and when you shop at multiple sites, it’s like leaving copies of your key all over the internet with no real way to keep track of who has them, or how to get them back,” Richard Wormald, division president Australasia at Mastercard, said in a statement.
“With payment credentials securely held, managed and shared by one of the most trusted institutions in people’s lives, their bank, Mastercard Click to Pay, sets the new standard for secure and seamless online transactions. By replacing card details with a secure token, cardholders no longer need to share their front door key, giving them far more control over who they let into their house, and who can come back in the future,” added Wormald.
Domino’s, Reading Cinemas, Skip, and pay.com.au are all using the technology already.
“Click to Pay has revolutionised the pizza ordering process for more than 10,000 Domino’s customers since its introduction,” Kent Madders, Domino’s marketing director for Australia and New Zealand, said.
“This payment solution has enhanced the online ordering experience, helping us to ensure that Australian pizza lovers can enjoy their favourite Domino’s menu items with record speed.”
David Hollingworth has been writing about technology for over 20 years, and has worked for a range of print and online titles in his career. He is enjoying getting to grips with cyber security, especially when it lets him talk about Lego.
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