The measure will simplify online payments by enabling enrolled shoppers to bypass data entry during online checkout. The Click To Pay solution adopted by Adyen will simplify the payment experience across all devices and browsers.
Adyen is an international payment company with over 2,000 employees and 26 offices globally. The global payment operator in more than 200 countries offers online and in-store payment processing solutions.
In 2021, the company’s revenue reached $6.8bn.
Edgar Verschuur, Global Head of Payments at Adyen, welcomed Adyen’s latest move: “Many businesses still struggle with low conversion at the online checkout, especially as it pertains to first-time or one-time shoppers
“We are committed to addressing this challenge using a range of global payment initiatives. By embedding Click to Pay into our online payment flow, we eliminate the need for consumers to manually enter their card details. This makes it quicker, more intuitive, and less error-prone for shoppers to successfully complete their purchase, which ultimately drives revenue for our customers”, Verschuur added.
Click to Pay is an online payment solution launched in 2019 by Mastercard, Visa, American Express and Discover. Click to Pay stores users’ payment and shipping details to provide a faster online checkout experience with partner merchants.
According to GlobalData’s Payment Instrument Analytics, the mobile wallet transaction value reached $79.6bn in the UK in 2021. The compound annual growth rate for mobile wallet transactions was 29.5% between 2019 and 2021, with its total value set to reach $134bn by 2025.