Visa has officially introduced its ‘Click to Pay’ service in Sri Lanka, a significant advancement aimed at enhancing the security and efficiency of digital commerce for users. This new feature streamlines the online payment process, offering several benefits:
Consumers can experience quicker and more secure transactions, while merchants can boost their payment success rates and conversion rates. Additionally, issuing banks can encourage increased card usage among customers.
As digital commerce expands in Sri Lanka, both consumers and businesses are increasingly prioritizing payment solutions that are fast, user-friendly, and secure. However, the guest checkout process on various websites and applications often proves to be cumbersome. It typically involves manual card entry, numerous form fields, and repetitive authentication steps, which can slow down transactions and lead to abandoned shopping carts, ultimately resulting in negative experiences for consumers and lost revenue for merchants.
With ‘Click to Pay’, users can easily set up their accounts during their initial checkout on any participating merchant’s website or app. By simply providing their email address or mobile number, they can securely register their Visa card in just a few straightforward steps. For future purchases, customers can quickly retrieve their saved card information, select their preferred card, and finalize transactions with just a few clicks—eliminating the need to re-enter card details each time. Existing security measures, such as one-time passwords, will still be in place as needed to ensure transaction security.
Security is a fundamental aspect of Click to Pay. The system is designed to be tokenized, which means that sensitive card information is replaced with secure digital tokens at the backend, rather than being transmitted through the checkout process. This approach keeps actual card numbers hidden, reducing the risk of fraud and enhancing payment efficacy.
Avanthi Colombage, Visa’s Country Manager for Sri Lanka and Maldives, stated, “At Visa, we recognize that as more Sri Lankans adopt digital shopping and payment methods, it becomes essential to provide payment experiences that are reliable, secure, and seamless. With ‘Click to Pay’, Visa is enhancing how consumers engage with digital payments by simplifying and securing online checkouts. By integrating tokenization into the checkout process, we minimize the risk of exposing sensitive card information, allowing consumers to make every online purchase confidently and effortlessly. This represents a crucial development in advancing payment solutions in Sri Lanka, supporting the ongoing growth of the nation’s digital payments landscape.”
Source: Financial Chronicle Biz English | Sri Lanka Business News.
