Mastercard has announced the worldwide launch of its new Payment Passkey Service, which will make online shopping more secure and easier, at Global FinTech Fest in Mumbai, India.

• Debuting first in India as a pilot with some of the nation’s payment players, including payment aggregators such as Juspay, Razorpay and PayU, online merchants such as bigbasket and banks such as Axis Bank, the service will give millions of consumers more control and peace of mind when checking out online.
• Mastercard Payment Passkey Service makes transactions not only faster but also more secure against fraud and scams.
• With payment passkeys, consumers can say goodbye to the hassle of forgetting or accidentally sharing their passwords or OTPs.
• The Mastercard Payment Passkey Service uses tokenization to secure a consumer’s payment details and biometric data, ensuring that no data is shared with third parties and is useless to fraudsters and scammers.