- The partnership helps transform the ecommerce experience by merging streamlined checkout processes with enhanced security
Dubai, UAE; 12 November 2024: Mastercard has partnered with Tap Payments, one of the leading payment institutions and technology providers in the Middle East and North Africa, 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.
Mastercard’s research shows that 90% of consumers worldwide believe biometrics are more secure and convenient than passwords. 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.
“At Tap Payments, we are committed to providing our customers unparalleled payment experiences. 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,” said Ali Abulhasan, Co-Founder & CEO Tap Payments.
After launching the service in the UAE, the partners plan to expand it to other markets across Eastern Europe, Middle East and Africa region.
By combining the tokenization of payment credentials with seamless biometric authentication, Mastercard brings together EMVCo, World Wide Web Consortium (W3C) and FIDO Alliance industry standards to speed up and secure the checkout experience.
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About Mastercard
Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re building a sustainable economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.
www.mastercard.com
Mastercard communications contact: [email protected]
About Tap Payments
Tap Payments is transforming digital payments across the MENA region, providing businesses with simple, secure, and unified payment products. Serving over 100,000 businesses, Tap continues to grow rapidly, helping companies scale in the digital economy.
Tap Payments communications contact: [email protected]