Fintech powerhouse Cardstream partners with Mastercard to roll out new service to improve online shopping

July 2, 2024

Fintech powerhouse Cardstream partners with Mastercard to roll out new service to improve online shopping

Leading financial services business Cardstream has announced its partnership with Mastercard to roll out its new Click to Pay service to Cardstream customers globally.

Click to Pay gives merchants the option to benefit from an embedded and optimised checkout within existing integrations. This removes the requirements for manual card detail entry and improves the guest checkout experience as consumers can store and handle their cards in a single profile, which is updated automatically.

Mastercard has already seen checkout times reduce by 50% whilst producing increased acceptance rates by up to an estimated 3%. 

Click to Pay is primed to become as ubiquitous as contactless payments.

With digital transactions becoming the norm, there’s an increasing need for solutions that can guarantee a smooth and secure checkout process, and Cardstream continues to team up with partners in developing technology to do this. 

It marks another exciting milestone for Cardstream Group, which has a back catalogue of recent achievements such as the launch of its PayFac as a Service (PFaaS) last year which was a European first. 

Regarding the Mastercard collaboration, Adam Sharpe, who is CEO at Cardstream, comments: “Incorporating Mastercard’s Click to Pay within our ecommerce portfolio will give our customers another competitive advantage. It will enable consumers to have access to their choice of cards on different devices, without having to enter a password or details of the card manually. The Cardstream vision is about leveraging technology to create flowing and high-precision options for our Partners and their customers.  This is another way we are doing this.”

Suren Nawalkar, Senior Vice President for Business Development, UK and Ireland said: “Most people still use guest checkouts when they shop online. Click to Pay is a quick and convenient solution which saves the need to remember lots of different passwords. We’re working with our partners like Cardstream to make sure their customers have access to the very best payments innovation and technology.”

Cardstream has experienced year-on-year revenue growth, with a record-breaking increase predicted for 2024, based on a bulging order book.

About Cardstream

Cardstream is a leading force in the payments services industry, seamlessly integrating onboarding verification and management, payment connectivity and gateway, transaction monitoring and routing, payment facilitation and acquiring into the new singular and dynamic brand that is Cardstream. At its core, Cardstream functions as the ‘engine inside’ the payment ecosystem, driving forward with a mission to simplify, secure, and accelerate financial transactions for businesses worldwide.

As a PCI DSS Level 1 independent payments gateway, Cardstream’s Open® Payment Network spans over 120 countries, connecting over 400 Acquirers, Payment Methods, Fraud Mitigation and Commerce platforms.

This ensures support for a broad spectrum of currencies and major card schemes, tailored to meet the needs of more than 140 Reseller Partners and their merchants. By offering a full-stack payments services suite, Cardstream empowers clients with customised, white-labelled solutions, providing unprecedented operational efficiency and market agility.

About Mastercard 

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all. 

Learn more at www.mastercard.co.uk