Bringing together its leading technology, including tokenization, Click to Pay and biometric authentication via payment passkeys, to help consumers breeze through online checkouts SINGAPORE , Nov. 6, 2024 /PRNewswire/ — As payments become more intricate, Mastercard today announced the latest enhancement to its new Mastercard Payment Passkey Service which enables secure, on-device biometric authentication through facial scans or fingerprints, the same way consumers unlock their phones every day. By combining the fraud-busting powers of tokenization, convenience of payment passkeys, and the addition of streamlined guest checkout capability courtesy of Click to Pay, consumers can now enjoy seamless, one-click checkout across devices, browsers, and operating systems, eliminating the need for static or one-time passwords (OTPs).
Crucially, by using Mastercard Click to Pay, online shoppers no longer need to have an account or a saved card-on-file with a merchant in order to use biometric authentication with payment passkeys, making quick, easy, secure guest checkout a reality. At the same time, merchants will see fewer abandoned carts, increased sales and fraud protection, while issuers will gain top-of-wallet status and customer security, demonstrating the far-reaching benefits for the entire ecosystem. Today’s launch at the Singapore FinTech Festival marks the latest milestone in Mastercard’s mission to reinvent checkout.
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