Mastercard and Tap Payments to Launch Click to Pay With Payment Passkey
Mastercard and Tap Payments have partnered to introduce a Click to Pay with Payment Passkey service for eCommerce transactions.
The companies plan to launch the service in the United Arab Emirates (UAE) and then expand it to other markets across Eastern Europe, the Middle East and Africa, they said in a Tuesday (Nov. 12) press release.
Payment Passkeys use device-based biometric authentication methods such as fingerprints or facial scans, eliminating the need for traditional passwords and one-time-passwords (OTPs) and making transactions faster and more secure, according to the release.
When using the Click to Pay with Payment Passkey service at checkout, shoppers select their Mastercard that is stored with Click to Pay and are intelligently recognized via their device or email address, the release said.
No payment details or biometric data are shared with third parties, per the release.
“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 prioritizes both security and convenience,” Maria Parpou, executive vice president, Mastercard Gateway, said in the release.
Tap Payments Co-founder and CEO Ali Abulhasan said in the release: “Our latest collaboration with Mastercard is pushing the boundaries of innovation in eCommerce, making online payments easier, faster and more secure than ever.”
Mastercard launched its Payment Passkey service in India in August, saying its device-based biometric authentication methods can help prevent fraud.
The company said in an Aug. 29 press release that after the initial pilot program in India, it planned to roll out the service to more consumers and financial institutions around the world.
Passkeys can benefit emerging markets by bringing security and frictionless payments together, Tine Fincioen, executive vice president digital transformation at Mastercard, told PYMNTS in an interview posted in September.
Mastercard has been working with client firms, including FinTechs, to get end users more fully engaged in various digital use cases — and data offered by the payments network can help those enterprises gauge how well, and where, their customer engagement has been trending as they introduce new products and services, Fincioen said.
Click to Pay was introduced about five years ago, initially as Secure Remote Commerce, and now spans consumer-facing and B2B transactions, Jennifer Marriner, executive vice president, global acceptance solutions at Mastercard, told PYMNTS CEO Karen Webster in an interview posted in February.
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