SEB and Mastercard introduce Click to Pay solution for more convenient online payments

SEB has become one of the first banks in Latvia to introduce Click to Pay in cooperation with Mastercard – an innovative e-commerce payment method that provides more convenient and secure payments with Mastercard and VISA payment cards. The company's customers, choosing the Click to Pay, will be required to enter their phone number or e-mail address instead of full card details, after which they will have to confirm the payment on their smart device.

"In line with Mastercard's 2030 vision for the development of e-commerce in Europe, we are committed to eliminating the manual entry of payment card data. By partnering with SEB, we are taking a step closer to our vision by making modern and secure card payments available to merchants and consumers in Latvia," says Johan Modenius, Senior Vice President, Financial Institutions, Northern Europe, Mastercard.

Click to Pay is designed to simplify card payments. It allows people to make their favourite purchases online without having to enter their card details during each transaction. The Click to Pay solution is based on global standards and is available to VISA and Mastercard card users worldwide, recognises Click to Pay users and provides data encryption for a highly secure payment process.

"Last year's SEB survey on the popularity of e-commerce and shoppers' habits in the Baltic States shows that online shops have become a part of everyday life for shoppers - almost 70% of people shop online regularly. Given the high penetration of online shopping, payment security and the reliability of shops are becoming crucial factors that can encourage online shopping or, on the contrary, scare shoppers away. Security – in payments and in the processing of customer data – is becoming a top priority for payment providers and shopping platforms. Click to Pay is a solution that improves payment security as well as the shopping experience of customers," says Ineta Bukele, Head of SEB Cash Management and Trade Finance Department, commenting on the benefits of the new solution.