Visa, a digital payments provider, has announced a partnership with ZA Bank to roll out Click to Pay in Hong Kong today. This purportedly helps the digital bank pioneer Click to Pay, enabling cardholders to complete transactions without manual entries.
With Click to Pay activated, users can skip guest checkout, avoid filling out form fields, and no longer have to be concerned about remembering passwords once their Visa card is set up via ZA Bank’s app. The process is designed to cut checkout times to under a minute.
To complete an online purchase, consumers need with their registered email, phone number, or Visa Payment Passkey. The service is expected to expand to 11 more markets following the Hong Kong launch.
T.R. Ramachandran, Head of Products and Solutions, Asia Pacific, Visa, said,
“Our partnership with ZA Bank is a great example of Visa’s ongoing industry collaboration to bring innovative payment solutions that benefit the consumer, merchant and issuer. “
Additionally, by integrating Click to Pay as a card-level feature that comes pre-installed with Visa cards, cardholders can access the solution without needing to sign up separately on third-party e-commerce or merchant sites for Click to Pay. No additional setup is required by consumers.
Also, to enhance security, cardholders can set up their Visa Payment Passkey using their device’s biometric features or screen lock. This Passkey can then be used to authenticate future payments at participating eCommerce sites.
The Visa Click to Pay Hong Kong partnership with ZA Bank reflects a broader trend among issuers, acquirers and merchants towards safer and seamless checkout solutions.
With cart abandonment rates in eCommerce reaching up to 84%, solutions like Click to Pay are designed to streamline the checkout process, boost authorisation rates by around 2.5%, and support higher conversion for merchants.
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