B2B payments specialist Adflex is expanding its partnership with Mastercard by offering Click to Pay to its merchants, according to a company press release Wednesday (May 18).
The company’s merchant customers can now use its platform to simplify eCommerce transactions, encourage faster payments, improve supplier-buyer relations and reduce the risk of fraud, the release stated.
“Digital payments are driving business growth, with global eCommerce sales expected to top $7 trillion by 2025,” said Adflex CEO Pat Bermingham in the release. “As an early adopter of Click to Pay, merchants using Adflex’s PayPage or Payment Links services can now enjoy a simpler and highly secure checkout experience. Removing unnecessary steps, such as repeated data entry, makes it easier for buyers to pay and merchants to be paid quickly.”
Click to Pay employs two-factor authentication to make sure transactions comply with strong customer authentication (SCA) regulations. The program was launched by Visa, American Express, Discover and Mastercard in the U.S. in 2019 before expanding to the U.K. and a host of other countries the following year.
Read more: Amex, Discover, Mastercard and Visa Take Click to Pay Global
The credit card companies said the digital checkout method is similar to what happens at brick-and-mortar stores, with a single terminal handling all card payments.
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“Largely due to the complex nature of B2B payments, Click to Pay has primarily been adopted by business-to-consumer (B2C) merchants so far,” the release stated. “However, with over 20 years’ experience in B2B payments, Adflex is able to integrate the service into its commercial customers’ website or allow them to accept [secure remote commerce] payments.”
Companies are increasingly adopting these smoother digital payment methods to establish and expand trusted supplier relationships. As PYMNTS noted in a report, sellers who hope to serve B2B customers will need to pay attention to the digital checkout experiences as more of their sales happen over digital channels.
See more: B2B Vendors Want Payments to Disappear
PYMNTS research found that click-to-purchase buy buttons can significantly lower checkout times and that consumers spent an average of 99 seconds on checkout when leveraging a buy button versus just under three minutes when not using one.
