Before the pandemic,the e-commerce market was already experiencing steady growth,with an increasing number of consumers getting used to buying goods and services online.For instance,in the UK,the e-commerce market size is expected to grow by 7.2%between 2021 and 2025,reaching 225 billion euros.Additionally,the volume of online payments is projected to rise by 16.4%,amounting to 121 billion euros.

Due to the pandemic,it became difficult for people to visit physical stores as usual.Consequently,many businesses swiftly adapted by increasing their focus on e-commerce and enhancing online shopping experiences with home delivery and contactless services.Over the course of the pandemic,consumers grew accustomed to the convenience and diversity of online shopping.However,certain consumers still harbor concerns regarding the security and convenience of online payments.

According to statistics,46%of consumers are most concerned about the convenience of the online checkout process,while 86%are concerned about security.The manual entry of card details during payment is both inconvenient and insecure,contributing significantly to lower payment success rates.Click to Pay offers a solution to this issue by simplifying the checkout process for merchants,providing consumers with a secure and convenient payment experience.

Click to Pay is implemented by EMV®Secure Remote Commerce(SRC),a technology framework designed to bring security,familiarity,and consistency to the online checkout experience.Click to Pay aims to offer payment choice and convenience,enabling merchants to accept multiple card types across websites,mobile apps,and other digital channels,providing a seamless online checkout experience.The EMV trademark and Click to Pay icon are trademarks owned by EMVCo,LLC and are used under license.

When users register for Click to Pay,there are primarily two main methods:

1.The first method involves card issuers pre-registering the Click to Pay functionality for cardholders.

2.The second method allows cardholders to register directly at the time of payment by selecting the Click to Pay option.

Once successfully registered,cardholders can securely and swiftly make payments at any checkout that supports Click to Pay functionality,without needing to enter their payment card details or other verification information to complete transactions.

The actual payment process for Click to Pay is as follows:

1.Checkout Selection:The cardholder selects"Check out"at a merchant that supports Click to Pay.

2.Enter Email or Phone Number:The cardholder enters their email or phone number to receive a one-time password(OTP).(If not previously registered,the cardholder can securely register on the spot and proceed with payment.If supported by the issuer,they can bind their card with one click.)

3.Enter OTP:The cardholder enters the received OTP.

4.Submit Order:The checkout system retrieves the relevant information,and the cardholder submits the order for payment without needing to enter the CVV,expiration date,or other sensitive information again.

5.Payment Successful:The payment is successfully completed.

Click to Pay is built on global payment industry standards,allowing quick payments using Mastercard,Visa,Discover,and other cards.Its simple and flexible components enable rapid establishment of payment channels between payment service providers and merchants,providing consumers with a secure and fast payment experience while effectively preventing fraud.Through intelligent analysis,consumers can quickly access information of interest and saved data,significantly reducing cart abandonment rates.

Currently,card issuers in 23 countries support Click to Pay,with over 70 million registrations and a conversion rate of 93%.Both now and in the future,Click to Pay is expected to gain more popularity.The latest requirements for Click to Pay will lead to a substantial increase in the number of supported issuers,acquirers,cardholders,and their cards.

As payments become increasingly complex,Mastercard is leveraging Tokenization,Click to Pay,and payment keys to create a consistent experience across devices,browsers,and operating systems.Aiming to eliminate the manual entry of card numbers,Mastercard is promoting the adoption of Click to Pay among online merchants and encouraging more issuers to help cardholders register their cards with Click to Pay,making one-click payments safer and easier for everyone.

Visa mandates that all merchants in Europe must proactively support and offer Click to Pay functionality by October 18,2025.According to authoritative estimates,by the end of next year,an additional 100 million cards will be registered for Click to Pay.This means that merchants adopting Click to Pay will enable over 150 million cardholders globally to make one-click payments without manually entering card numbers and other card information at their online checkouts,thereby enhancing payment conversion and success rates for merchants.

ONERWAY holds licenses such as EMI in the UK,MSB in the US,and MSO in Hong Kong.It has passed PCI-DSS Level Certification and is of principal members of Visa and Mastercard.

ONERWAY's compliant operational model provides a high level of security for users'funds.By combining its proprietary intelligent risk control system with third-party risk control systems,it greatly enhances transaction security,reduces the risk of fraud,and strives to deliver a comprehensive one-stop cross-border payment solution and service.