Accelerated by the approach of sporting competitions such as the European Football Championship and the Olympic Games, innovations in payment have been numerous at the start of 2024. Discover the trends identified by the editorial team.
On the occasion of the 13the edition of One to One E-commerce in Monaco, Visa announced the launch of its “click to pay” solution in France and its deployment on the Vestiaire Collective e-commerce site. For Sophie Noel, retail director at Visa, the idea is to ccreate the new standard for paying for online purchases, by simplifying the customer journey. With 12% of sales made online in France and a 137% increase in online payments in recent years, Visa’s retail director believes that it is time to invest in payment solutions. However, she regrets that only 18% of e-retailers are doing so.
The solution uses Visa tokens to optimize transaction security and performance. This way, online payment can be made in just a few clicks. Pour Virginie Melaine-Christensen, General Manager France of Aydennot having to enter bank card information increases the speed of the purchasing process by 25%, “and the gap is expected to widen further by adding biometric recognition to this technology”she comments.
Mastercard rolls out its own tokenization service
Click to Pay marked this first half of 2024 since, for its part, Mastercard uses the same tokenization technology for its own click to pay solution. The company’s aim is to standardize and secure payments through this simple button replacing traditional card payments.
This has been added to the Prestashop solution palette. Since April, Click to Pay has been made available to e-retailers, users of the Prestashop platform, based in France, Spain, Italy and the United Kingdom. The functionality is expected to be gradually integrated into other European and international markets.
Internationalization of payment methods
According to the Visit Paris Region website, Paris and the Île-de-France region welcomed 50.6 million tourists in 2019, for 21.9 billion euros in revenue. Shopping is the third favorite activity of visitors (38.9%), and who says shopping in Paris, says Galeries Lafayette. Aware of its strong appeal for tourists, the emblematic luxury brand on Boulevard Haussmann is looking to expand its payment methods.
Thus, on July 3, Galeries Lafayette announced the possibility for Indian tourists to pay with UPItheir preferred payment method, directly in store on a payment terminal. This initiative aims to confirm the brand’s desire to be attentive to international trends.. Since then, when a customer wants to pay with UPI at Galeries Lafayette, the seller simply clicks on the dedicated button in their cash register software. A dynamic QR code is instantly displayed on the screen. The customer just has to scan it with their mobile application to validate the payment.
In addition to UPI, Galeries Lafayette also accepts Alipay+. This payment solution, which is very popular in Asia and a partner of Euro 2024, has taken advantage of the massive arrival of tourists in Europe to extend the acceptance of cross-border mobile payments and launches exclusive campaigns with offers and benefits for users of Alipay+ partner wallets, in anticipation of increased travel.
As of June 2024, more than 400,000 merchants in Europe accept mobile payments via Alipay+ from 14 international e-wallets and banking apps. In addition, in France, Alipay+ has partnered with Crédit Mutuel to facilitate payments at retailers, hotels and restaurants, including Max Mara and Kids, as well as more than 500 SMEs located near the Olympic facilities.
Source: www.ecommercemag.fr
