payabl. has launched Visa Click to Pay, a new online card payment experience designed to streamline the checkout process and mitigate fraud for merchants across Europe.
- payabl. has launched Visa Click to Pay, a new online card payment experience designed to streamline the checkout process and mitigate fraud for merchants across Europe.
The innovative solution aims to eliminate the friction often associated with online transactions, allowing customers to complete purchases swiftly and securely. By replacing the need for manual card number entry with a token-based system, users can check out with just a few clicks, similar to the ease of contactless payments in physical stores.
Once a card is enrolled, customers benefit from a significantly faster checkout, which is crucial in reducing cart abandonment rates, particularly on mobile devices. According to Visa, this method can enhance authorisation rates by up to 11 per cent compared to traditional manual entry methods.
“With online checkout, every extra step costs conversion,” said Breno Oliveira, Chief Product Officer at payabl. “Visa Click to Pay removes one of the biggest points of friction at the moment of purchase.” He emphasised that the new service not only aids merchants in approving more legitimate transactions but also helps reduce fraud exposure while providing a seamless customer experience.
The rollout of Visa Click to Pay is part of payabl.’s ongoing strategy to optimise checkout performance, enhancing conversion rates and payment reliability for merchants. Available through the payabl. checkout, the service does not require additional integration, making it accessible for a variety of platforms.
This launch comes in response to growing consumer expectations regarding payment methods. Research from payabl. reveals that 46 per cent of consumers prioritise speed in their payment processes, while 44 per cent value convenience and 41 per cent consider security. Additionally, 53 per cent of consumers indicated a willingness to explore newer payment methods, provided they are backed by trusted brands like Visa.
“Consumers have come to expect a highly personalised, intuitive, and seamless payment experience,” stated Michael Ioannides, Visa Cyprus country manager. “Visa Click to Pay aims to meet these expectations by removing the need to manually enter card details, thus enhancing both security and the consumer experience in online card payments.”
Ioannides added that the technology supports existing security protocols such as 3D Secure and works across multiple devices, ensuring a robust and safe transaction process. The Visa Click to Pay feature could lead to a 4.5 per cent uplift in merchant sales, translating to an estimated annual increase of €51 billion in e-commerce sales for small and medium-sized businesses in the UK and EU.
Insights from payabl.’s State of European Checkouts report further illustrate the urgent need for improved checkout experiences. Oliveira noted that 43 per cent of European consumers would not return to a site after a poor checkout experience, highlighting the direct impact on merchants’ customer retention and revenue potential.
This strategic launch underscores payabl.’s commitment to enhancing the online shopping landscape, ensuring that merchants can meet the evolving demands of consumers while optimising their payment processes.
