Visa Checkout and Mastercards Masterpass, along with Amex and Discover are collaborating to make e-commerce more simple and efficient for the consumers. Whilst currently the button is still under development it is said to launch later on this year.
One concern that has been flagged is that online retailers with not be able to “route their debt-card transactions to lower cost networks”. Visa and Mastercard, in a bid to protect against fraud, will develop further unique token’s. However these tokens will not be able to be translated by the smaller networks and merchants. Raising the alarm that merchants will no longer be able to choose a alternative network to process their transactions.
However Visa has expressed their relationship with merchants, stating they will offer translations and choice.