Mastercard said Tuesday (June 11) that it aims to make the experience of using a card online more like that of using one in store.

The company is working to phase out manual card entry for eCommerce by 2030 in Europe, replacing it with a one-click button across any online platform, Mastercard said in a Tuesday press release emailed to PYMNTS.

Following the implementation of the solution in Europe, Mastercard expects other markets to follow, according to the release.

“Today, when you shop in person, you can tap your card or mobile device on a reader and within a fraction of a second, your credentials are authenticated and your transaction is authorized,” Jorn Lambert, chief product officer at Mastercard, said in the release. “It should be just as simple, safe and convenient online as it is in store.”

Mastercard is working with banks, FinTechs, merchants and other partners to make that shift to a one-click button, according to the release.

One element of this solution will be tokenization, which replaces the traditional card number with a randomly generated one, the release said. Tokenization reduces eCommerce fraud, requires no effort on the part of the consumer and makes automatic payments more seamless.

Another part of the solution is Mastercard’s online checkout system, Click to Pay, per the release. The company is making it easier for merchants and bank partners alike to adopt this feature.

A third component is payment passkeys for online transactions, which replace passwords and one-time passcodes with the on-device biometric authentication already used by many to log in to their phone and other accounts, according to the release.

“We can bring the same security, simplicity and speed to online checkout that contactless has brought to the physical world today,” Lambert said in the release. “By bringing issuing and acquiring banks along this journey with us, we can make it happen sooner than you think.”

Mastercard’s latest earnings data showed that in the most recent quarter, tokenized transactions grew over 50% year over year and represented 25% of the transactions across the Mastercard network.

This shift comes at a time when shoppers are demanding more effective fraud prevention tools from eCommerce merchants, according to “Fraud Management, False Declines and Improved Profitability,” a PYMNTS Intelligence and Nuvei collaboration.



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