Changes are on the way for online shopping and e-commerce. The traditional way of paying for items online by typing in your credit card details (card number and CVV security code) will soon be a thing of the past.
Mastercard and other card payment companies will be introducing a one-click button that will work on any online platform.
One of the reasons why services will be moving to a one-click system is to deter hackers who target merchant sites to steal consumer card information. According to a 2023 study by Juniper Research, merchant losses from online payment fraud will exceed $362 billion globally between 2023 to 2028, with losses of $91 billion alone in 2028.
The one-click system will protect consumers and their online data.
