Mastercard and Tap Payments Launch Click to Pay with Payment Passkey Service for Ecommerce Payment Passkeys will revolutionize the consumer journey by eliminating the need for one-time-passwords (OTPs) and enabling device-based biometric authentication methods, such as fingerprints or facial scans.
You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.
Global payments giant Mastercard has partnered with Saudi Arabia-headquartered fintech Tap Payments to introduce a global-first Click to Pay with Payment Passkey service for secure ecommerce transactions.
Payment Passkeys will revolutionize the consumer journey by eliminating the need for one-time-passwords (OTPs) and enabling 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.
This service has been introduced by Tap Payments on Mastercard's Payment Gateway.
The Mastercard Payment Passkey service leverages Click to Pay to secure consumers' payment details through tokenization and biometric data, safeguarding data from third-party access. Shoppers simply select their Mastercard, already stored securely with click to pay, at checkout. Returning customers are intelligently recognized via their device or email address, making it easier for them to check out.
"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 prioritizes both security and convenience," said Maria Parpou, Executive Vice President, Mastercard Gateway.
The Click to Pay service combined with Mastercard Payment Passkey authentication makes transactions not only faster but also more secure against fraud and scams, ensuring that no payment details or biometric data are shared with third parties.
After launching the service in the UAE, the partners plan to expand it to other markets across Eastern Europe, Middle East and Africa region.
