Mastercard South Africa and PayU, a subsidiary of Naspers Group, have joined forces to introduce Click to Pay, an advanced payment technology, aimed at expediting online payments in South Africa. PayU recently hosted an exclusive event in partnership with Mastercard to unveil this innovative offering, which is set to make a significant impact on the country’s payments industry.
Click to Pay transforms how consumers make online payments by removing the requirement to enter credit card details or store sensitive information on various platforms. Instead, users only need to provide their information once, enabling nearly instantaneous transactions thereafter.
With Click to Pay, consumers enjoy a consistent and seamless checkout experience, as they can effortlessly complete purchases without entering their card credentials or storing sensitive data with different merchants. Once enrolled, users can securely check out using their stored cards on any merchant platform that supports the Click to Pay service.
The system also offers payment service providers and merchants the ease of a single integration, while robust security measures such as bot detection, tokenisation, device spoofing prevention, and data encryption help reduce the risk of fraud.
Gabriel Swanepoel, Mastercard’s country manager, addressed attendees at the exclusive PayU event in Johannesburg, shedding light on the evolving landscape of African e-commerce. Swanepoel highlighted that digital commerce in South Africa has experienced significant growth, expanding from a value of US$2 billion in 2017 to approximately $5 billion today. Even after the COVID-19 pandemic, which witnessed a surge in digital transactions, 50% of South African consumers continue to prefer conducting transactions remotely.
Swanepoel emphasised the emergence of new digital transaction models beyond traditional forms, spanning marketplaces and social commerce, as consumers exercise their preferences. He stressed the importance of building trust and providing a seamless user experience to achieve scalability, underscoring Mastercard’s commitment to e-commerce and technology.
With the introduction of Click to Pay in South Africa, Mastercard and PayU aim to enhance the convenience, security, and efficiency of online payments, meeting the evolving needs of consumers in the digital age.
