Mastercard is scaling its new tokenised and embedded online checkout experience which enhances security for online transactions, while maintaining convenience for consumers.

The increasing threat of card-not-present fraud saw Australians lose $608.1 million in 2023 according to AusPayNet data.

Built on industry standards to ensure broad availability of the technology to cardholders and retailers, Mastercard Click to Pay delivers a more streamlined and secure checkout experience by eliminating the need to manually enter payment card details.

Instead, an automatic email lookup coupled with two-factor authentication allows the cardholder to access available cards instantly at checkout, before permitting their bank to securely share their payment credentials directly with the retailer.  

Compatible with most debit and credit cards available in Australia, cardholders can enrol in Click to Pay by visiting the Mastercard website with millions of cards expected to be added before the end of 2024.   

Mastercard Click to Pay evolves the functionality and convenience of existing Click to Pay buttons by embedding the technology directly into the checkout. This allows cardholders to access available cards instantly and facilitate a payment without needing to click additional buttons, or leaving the retailer’s website, reducing checkout time and increasing conversion rates for retailers up to 94%.  

“In the same way contactless made payments more convenient in physical retail, Mastercard’s Click to Pay has huge potential to make online payments smarter, safer and more streamlined. Today, that is done by embedding the technology directly into the checkout experience,” Mastercard division president of Australasia, Richard Wormald said.

“In the coming months, Mastercard will add new authentication and verification tools to its tokens, allowing financial institutions and merchants to make informed decisions on whether a transaction is genuine, or potential fraud.”