Clover has rolled out identity-based payments to bring a new approach to how customers confirm transactions at retail points. The identity-based payments solution will ensure hassle-free online payments for both the merchant and the customer. Clover seeks to ensure faster and more secure engagements by eliminating challenges associated with the conventional checkout process. The identity-based payments solution will ensure increased customer satisfaction.
“The future of commerce is the unification of payment. Identity,” said Sanjay Saraf, SVP and Global Chief Product Officer, Merchant Solutions at Fiserv. He added that by embedding Wink’s leading biometric security and intelligence directly into the Clover platform. Fiserv is making advanced technology more accessible for Main Street SMB businesses. According to Saraf, this integration will help merchants deliver exceptional customer experiences while opening new opportunities for business growth.
Expanding Identity-Driven Payments Across Merchants
The solution was designed by the company to link the shopper’s identity and the favored means of payment. This means that the shopper is able to make payments without having to physically display the cards or devices. This also helps the merchant have enhanced visibility into the shopper’s buying habits and loyalty programs. Clover aims to use its wide merchant base to extend the reach of the solution related to identity payments.
“Wink’s strategic integration with Clover will bring unparalleled security, speed. Intelligence to every transaction across a large ecosystem of merchants. App developers and partners,” said Deepak Jain, Founder and CEO of Wink.“We are excited to work closely with Fiserv to bring to market advanced identity-driven payment use cases that will shape. The future of connected commerce across retail, hospitality, venues, and stadiums,” he added.
The technology is coupled with tokenization for protecting sensitive data. The technology is also integrated with Clover’s current platform. Thus, businesses will be able to improve their security and give consumers an innovative payment service. In addition to this, the technology is capable of integrating loyalty and offering services. The technology will enable businesses to keep up with changes in customer expectations. Clover is assured of exponential growth due to the increased adoption of digital payments in all sectors. Clover will implement identity payments in selective markets.
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Source: Businesswire
