Mastercard has teamed up with Tap Payments for the global launch of Click to Pay with Payment Passkey service, aiming to enhance security for ecommerce payments.
This service utilises biometric authentication, such as fingerprints or facial recognition, to streamline the consumer journey and improve security measures.
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By incorporating Payment Passkeys, the companies aim to enhance the checkout process by negating the need for one-time-passwords (OTPs).
The service, which is now available on Mastercard’s Payment Gateway through Tap Payments, is designed to accelerate transactions while reducing the risk of fraud and scams.
The Mastercard Payment Passkey service deploys Click to Pay to protect consumers’ payment information using tokenisation and biometric data.
Shoppers can easily choose their Mastercard, already securely stored with Click to Pay.
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By GlobalDataTap Payments co-founder and CEO Ali Abulhasan said: “We believe that every digital transaction is a moment of trust between merchants and shoppers, which is why we continue to implement robust security measures.
“Our latest collaboration with Mastercard is pushing the boundaries of innovation in ecommerce, making online payments easier, faster and more secure than ever.”
The Click to Pay service, enhanced with Mastercard Payment Passkey authentication, expedites transactions and fortifies them against fraudulent activities. It guarantees that no payment or biometric information is shared with external entities.
Following its initial launch in the UAE, the service is expected to be extended to additional markets within the Eastern Europe, Middle East, and Africa region.
Mastercard Gateway executive vice president Maria Parpou said: “Our partnership with Tap Payments introduces a new standard in secure, seamless online transactions.
“By integrating Click to Pay with Payment Passkey, Mastercard is elevating the ecommerce experience, ensuring shoppers can transact confidently with ease, supported by technology that prioritises both security and convenience.”
Mastercard’s approach to secure checkout experiences is rooted in the integration of industry standards from the World Wide Web Consortium (W3C), and the FIDO Alliance.
Recently, Singapore’s FOMO Pay collaborated with Mastercard to launch FOMO SoftPOS, a Tap on Phone payment solution.
