Mastercard and Spain-based digital payments fintech MONEI announced an agreement to make Click to Pay technology available to electronic businesses in Spain. The aim of the partnership is a secure online payment process in which customers pay without the need to manually enter their card details in cases where their card is not stored in the store.

  MONEI will be able to benefit from Mastercard's technology and offer a secure digital payment experience to its users. What this feature offers Mastercard Click to Pay, based on an international standard, allows users to shop without having to create or start an account, by avoiding the entry of the card number or personal information once the consumer has registered. Customers only have to link their Mastercard card to Click to Pay.

For their next purchase, they will be already able to pay immediately without having to enter the 16 digits of their card, and passwords, or fill out long forms. Aim of the partnership According to a Mastercard Spain representative, they are convinced that the future of payments depends on optimising the customer experience, and that this expansion of the Click to Pay ecosystem with MONEI will take the ecommerce sector one step further. Consumers will be able to identify the businesses that have this online payment method available with the logo.

For businesses, the main advantage will be a lower rate of abandonment in purchases and, therefore, a greater volume of online sales. A MONEI representative states that with Mastercard's Click to Pay, the partners are reinforcing their aim of helping ecommerce companies to simplify the purchase process. Click to Pay Benefits According to ecommerce news, currently, millions of Mastercard cards are enrolled in Click to Pay and more than 10,000 merchants around the world are enabling this option for their customers.

The technology, which meets global security standards in intelligent card credential recognition and tokenisation, also provides advanced solutions that improve approval rates, reduce false rejects and decrease the possibility of fraud. With Click to Pay, users have access to a password-free online payment experience that stores payment information securely, recognises users through intelligent authentication, and centrally manages payment information.     
MONEI’s payment acceptance features.

MONEI also allows users to accept payments from their phone with MONEI Pay. Customers can process QR code payments from any mobile device using a hardware-free POS system. This is done through the use of the MONEI Pay mobile payment app which allows customers to view in-person and online sales reports from any device.

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