Home / Business and Economy / PhonePe Bolt: One-Click Payments for Visa, Mastercard
PhonePe Bolt: One-Click Payments for Visa, Mastercard
10 Jan
Summary
- PhonePe PG Bolt enables one-click Visa and Mastercard payments.
- Device tokenization secures payments and reduces checkout steps.
- Users save cards once, using them across integrated merchants.
PhonePe Payment Gateway has introduced 'PhonePe PG Bolt,' a new feature designed to streamline credit and debit card payments for Visa and Mastercard users. This solution utilizes device tokenization, offering a secure and highly convenient one-click payment experience directly within the PhonePe app and integrated merchant platforms. The primary goal is to move away from traditional, multi-step checkout processes.
With PhonePe PG Bolt, users can tokenize their Mastercard and Visa cards just once within the PhonePe application. This tokenized card can then be used for subsequent purchases across any merchant partnered with PhonePe PG. Sensitive card details are replaced by secure tokens, eliminating the need to enter the CVV for future transactions on the same device, thereby enhancing security and speed.
This advancement significantly reduces checkout friction, keeping users within the merchant's app and avoiding external redirects. Merchants benefit from higher transaction success rates and faster checkouts, facilitated by the elimination of manual card entry and reduced technical hand-offs. The customizable interface integrates smoothly into existing app flows, maintaining brand consistency and minimizing transaction abandonment.
