Mastercard announced the worldwide launch of its new Payment Passkey Service to make online shopping more secure and easier than ever.
- This service has debuted in India as a pilot with some of the nation’s largest payment players including.
Key points
- Payment passkeys use device-based biometric authentication methods such as fingerprints or facial scans.
- By replacing traditional passwords and OTPs, the Mastercard Payment Passkey Service makes transactions not only faster, but also more secure against fraud and scams.
- With payment passkeys, consumers can say goodbye to the hassle of forgetting or accidentally sharing their passwords or One time passwords (OTPs).
- Shoppers choose their Mastercard when checking out as a guest or select a card already stored securely on file with a merchant.
- To confirm the payment, users can use the biometric authentication mechanism features on their device – whether it’s a fingerprint, face scan or PIN. Upon successful authentication, the payment is instantly completed.
