MasterCard and CrediMax, one of the leading credit card issuers in the Kingdom of Bahrain, have collaborated to launch a payment solution powered by Mastercard Gateway. The new payment solution, called Click to Pay, allows users to complete purchases across different devices. It promises to save time and reduce the possibility of errors by eliminating the need to manually enter a password.
Strengthening security measures
CrediMax has applied encryption and encryption technologies to protect customer data and enhance security in online transactions. Through these security measures, the company aims to ensure the safety of consumers' personal and financial information in every transaction.
Ahmed Siyadi, CEO of CrediMax, said: “CrediMax is pleased to be at the forefront of technological innovation by introducing the ‘Click to Pay’ feature to the market. We understand some of the challenges that cardholders face during the payment process, and our goal is to provide them with a simple and secure solution.” And effective.”
MasterCard and #CrediMax Joining forces to offer Click to Pay in #the two seas. This cooperation represents a milestone as the first company in Bahrain to implement the Click to Pay service via… #MasterCard Portalgiving consumers instant access to their favorite cards at every…
– MasterCard Arabia (@MastercardMENA) May 8, 2024
Recently, global digital payment company Checkout.com partnered with Mastercard to boost online travel payments by reducing costs for travel establishments. Checkout.com customers are poised to benefit from the introduction of virtual cards under the Mastercard wholesale program. This step aims to enhance payment efficiency, which ultimately leads to higher customer conversion rates.
This partnership allows travel agents to mitigate inefficiencies and errors, ensuring a smooth transition in customer payments and supplier transfers. This cooperation confirms Mastercard's dedication to supporting the adoption of new payment solutions in the field of business-to-business travel.
Other developments
On the other hand, the National Retail Federation (NRF) recently objected to the settlement between Visa, MasterCard and merchants, criticizing it as insufficient to address long-standing grievances. The settlement aims to resolve a dispute that has spanned nearly two decades and includes allegations that merchants were charged excessive fees during credit card transactions.
However, the NRF sees the proposed relief as “meager and temporary,” with concerns about fairness and lasting impact. The Union believes that the proposed reduction in exchange rates by four basis points for three years and average overall rates by seven basis points for five years is insufficient.
This article was written by Jared Kirroy at www.financemagnates.com.
