Mastercard Reinvents Checkout With Password and Number Free Payments
14 11월 2024 - 5:30AM
Business Wire
By the end of the decade, Mastercard plans to
phase out manual card and password entry in favor of smiles and
fingerprints globally, paving the way for a future where numberless
cards are the default
Mastercard today announced its vision to transform online
shopping by 2030. Imagine a future where no physical card numbers
are needed for purchases. Where passwords or one-time codes are
obsolete, and secure on-device biometrics allow seamless
authentication across devices and websites, ensuring personal data
stays on the device. This vision is already becoming a reality
today in major markets and is poised to become ubiquitous within a
few short years.
By 2030, Mastercard aims to eliminate the need for manual card
entry and one-time or static passwords by combining tokenization,
introduced ten years ago to protect sensitive personal and payment
data, with biometric authentication for secure, seamless checkout.
In doing so, Mastercard seeks to ensure that every online
transaction across its network can be tokenized and authenticated,
making online checkout smoother and safer.
Even with the rise of cutting-edge digital payment solutions,
online shopping still faces challenges and points of friction.
Fraud rates are seven times higher online than in stores1, as
criminals exploit exposed card numbers, creating headaches for
cardholders and huge losses for merchants and card issuers. Plus,
according to Mastercard research2, nearly two-thirds of shoppers
still struggle through manually entering their card details, with
25% of carts abandoned because checkout is too complex or slow.
Paving the way for safer and quicker payments for everyone, this
vision also unlocks a new era for physical cards by making the
possibility of numberless physical cards the default, further
reducing the risk of fraud should a card be lost or stolen.
Mastercard’s technology is already making online checkout
quicker for businesses. Today, tokenization is reducing cart
abandonment and growing transaction approvals by 3-6 percentage
points across regions and generating up to $2 billion in additional
global sales for merchants each month3. Additionally, the risk of
fraud is minimized. These advancements provide significant benefits
to the wider ecosystem, including banks, consumers, and
businesses.
“Just like the transition from signing and swiping to tapping
cards, we’re now moving from manual entry and passwords to seamless
and secure payments in just a few clicks. With this shift we are
protecting sensitive data through advanced encryption and
tokenization technologies,” said Jorn Lambert, chief product
officer at Mastercard. “As payments continue to be embedded across
a range of commerce experiences, we’re leading the way to a global
economy that empowers everyone – providing consumers with greater
control, convenience and peace-of-mind while unlocking new sales
for merchants, and lowering fraud for issuers.”
Core to this commitment to bring these new technologies together
by 2030 is continued partnership and momentum across the payments
ecosystem, as well as enablement via the Mastercard Gateway. Today,
Mastercard is working with a range of players to deploy and scale
these technologies:
- Today, more than 30% of Mastercard transactions worldwide are
tokenized4 through Mastercard Digital Enablement Service
(MDES), with key markets like India already nearing 100% for
e-commerce.
- The Mastercard Payment Passkey Service, which was first
rolled out to millions of consumers in India, Singapore and the
United Arab Emirates, continues to scale globally. Leading banks,
payment aggregators and online merchants, including Axis Bank,
BigBasket, Juspay, noon Payments, Lenskart, Razorpay, PayU and Tap
Payments today are deploying the technology.
- Click to Pay is rapidly expanding as issuers like
Commonwealth Bank of Australia, ING Spain, NatWest, Santander
Mexico, and more enroll their card portfolios. Acquirers, payment
service providers and other channel partners including Adyen,
Prestashop, Worldline and Yuno are also enabling this technology.
And consumers are using Click to Pay to make everyday purchases at
international merchants including Arcos Dorados, Just Eat
Takeaway.com, Nando’s, and Pizza Hut.
Mastercard continues to innovate for the speed of life –
delivering solutions and collaboration to fuel breakthroughs that
actually break through. This move builds upon several efforts from
Mastercard to reimagine the card – in 2021, the company was the
first payments network to formally phase out the magnetic stripe in
favor of newer and more secure technologies.
About Mastercard (NYSE: MA) Mastercard powers economies
and empowers people in 200+ countries and territories worldwide.
Together with our customers, we’re building a sustainable economy
where everyone can prosper. We support a wide range of digital
payments choices, making transactions secure, simple, smart and
accessible. Our technology and innovation, partnerships and
networks combine to deliver a unique set of products and services
that help people, businesses and governments realize their greatest
potential.
www.mastercard.com
_______________________________________ 1 Mastercard Data
Warehouse 2 Mastercard Global Foresights, Insights & Analytics:
Click to Pay Attitudes & Usage Research, 2023 3 Mastercard Data
Warehouse 4 Mastercard Data Warehouse
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Biz Cozine Biz.Cozine@mastercard.com
MasterCard (NYSE:MA)
과거 데이터 주식 차트
부터 10월(10) 2024 으로 11월(11) 2024
MasterCard (NYSE:MA)
과거 데이터 주식 차트
부터 11월(11) 2023 으로 11월(11) 2024