Powering your connection to digital commerce

Written by North American Commercialization Manager, Kirsten Bruhn

As the payment landscape becomes more diverse, the demand for wider reach, more services and payment flexibility are also increasing. Long gone are the days where a well-designed store and friendly staff was all it took to drive a successful sale and repeat customers. Now consumers are able to purchase goods from anywhere in the word from the comfort of their homes while expecting a seamless experience and the ability to choose how they want to pay.

In the post-pandemic era, consumers can complete their entire purchase digitally, forming opinions about your brand and customer service without having to interact with a single employee, step into a store or even visit your website. In this new digital by default lifestyle, a successful payment doesn’t equate to a positive experience. Just one negative encounter, such as a disjointed checkout experience, declined transaction or lack of choice in payment method, can result in a loss of sale and negative brand sentiment.

So how do brands and their payment partners navigate this new ecosystem where the consumers choice has shifted so drastically to digital? ?

Connectivity without the complexity

Recently our Executive Vice President, Maria Parpou talked about partners finding a new payment playbook in her keynote at Merchant Payment Ecosystem in Berlin . In her speech she discussed that if payment partners are going to win in this new digital ecosystem, they need to move from payment execution to commerce facilitation by connecting with services that can help them navigate the digital commerce landscape and new consumer habits.

At Mastercard Payment Gateway Services, our vision is to deliver a seamless digital experience through our connectivity as a service model. In this model we look at how merchants and payment service providers can connect via one single integration to a packed suite of acquirers, domestic schemes, alternative payment methods and value-added services such as hosted checkout, Pay by Link and more.?Our work with global and regional partners, other Mastercard products and services teams, plus other leaders in the payments industry, reinforces how we’re adapting and evolving in this changing landscape.

How connectivity can produce success

In this digital and global ecosystem, finding a connectivity partner, who can help you power numerous types of payment experiences is extremely valuable.

Global and local connections – For customers wanting to seamlessly accept payments cross the globe without integrating with different acquiring partners, our single integration can provide easy access to our global network of over 200 acquirers in 170 countries. While at the same time also offering connectivity to domestic networks and local alternative payment methods in each market. For many regions, adding a domestic card network to your international payment method portfolio is crucial to meeting local regulations and consumer needs, especially as localization continues to grow. In Mastercard’s December 2022 Localization report, we saw an acceleration of localization initiatives occurring across the globe, with 90% of the 62 markets that Mastercard tracked in 2022 increasing localization activity between January to December1.

Enabling industry leading innovation – Through our partnerships and the Mastercard network of products we’re able to offer customers access to industry leading innovations and services. Innovation is in our roots, and we feel the backbone to our customer’s success. 77% of brands ?believe user experience is a key to setting their brand apart from the competition.?For these reasons, we have worked to ensure our customers get easy access to products such as EMV 3-D Secure (3DS) 2.0 and Network Tokenization to increase consumer confidence in the security of your solution, Click to Pay to promote a speedy checkout experience, and Pay by Link to provide flexible payment flows, all through a single connection to Mastercard Payment Gateway Services.

Providing a quick to market solution – With access to our global footprint and local expertise you can accept payments in 170 markets. In addition to a large list of innovative products, and global and regional relevancy, our simple integration gives your business the opportunity to expand into new markets and industries more easily and reduces your time to market. Instead of focusing on complicated regional integrations, you’re able to focus on your core business and provide your consumers with the choice and certainty that they have come to expect.

With the right connections, anything is possible

A partnership is more than one size fits all; it should adjust to your needs, goals and evolve with consumer trends. Reach out to learn more about how Mastercard Payment Gateway Services can help your business expand and build upon traditional payment services. ?

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1.??????Mastercard Localization Report, December 2022