Mastercard, NBK transform online checkout experience
KUWAIT: National Bank of Kuwait (NBK), one of the leading banks in the country, and Mastercard have partnered to introduce an embedded Click to Pay solution, built on the highest industry standards and intelligent security. The launch will enable more than 2,000 local merchants to benefit from revolutionary online hosted checkout technology, powered by Mastercard Payment Gateway Services (MPGS), with minimum effort. Click to Pay is a seamless payment option that offers e-commerce customers a simple, secure and consistent way to check out online across any device and participating merchants with no manual card and password entry.
Once registered, shoppers can simply start the checkout process, and intelligent user recognition will retrieve cards securely stored in their profile to complete the payment, thereby eliminating the need to remember passwords, and resulting in faster checkouts without compromising security. At the same time, the solution allows merchants to improve their approval rates by using sophisticated tokenization technology, in addition to increasing conversion rates due to the improved user experience.
Businesses can also add payment links to invoices and share them with customers via multiple channels, including SMS, email and WhatsApp. According to Juniper Research, global e-commerce sales are projected to grow by 55%, exceeding $7.5 trillion by 2026. Innovations like Click to Pay will be the driving force of the future of commerce, enabling shoppers to benefit from faster and more secure digital payments. “At Mastercard, we are committed to working with our strategic partners across the region to create a robust and sustainable digital payments ecosystem that makes transactions easily accessible to everyone, everywhere.
We are pleased to build on our longstanding partnership with NBK as we mark this new milestone and further enhance the payment experience for people across Kuwait,” said Erdem Çakar, Country Manager, Kuwait and Qatar, Mastercard. “The interests of our customers have always been at the core of our business at NBK, which is why we are collaborating with Mastercard to offer new payment options, such as Click to Pay.
The launch of this seamless checkout solution is part of our endeavors to leverage the latest technologies in the banking sector to meet the increasing consumer demand for safer and more convenient banking services,” Mani Kant Verma, Senior Manager, Consumer Banking Group at National Bank of Kuwait commented.
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