Despite advanced digital payment solutions, online fraud rates are eight times higher than in stores, and 25% of carts are abandoned due to slow or complex checkouts, causing headaches for shoppers and significant losses for merchants and card issuers.
To tackle these challenges, Mastercard is reinventing checkout by bidding goodbye to one-time passwords (OTPs) with its new Mastercard Payment Passkey Service. This speeds up transactions by replacing OTPs with secure, on-device biometric authentication through facial scans or fingerprints, similar to how consumers unlock their phones.
See a live demo as Mastercard unveils the latest enhancement to payment passkeys, ushering in a new era of hassle-free checkouts and higher sales for merchants and issuers.
Technology Stage
Hall 3, Singapore EXPO
