Mastercard and PayPal Redefine Secure Online Shopping
Hey Payments Fanatic!
Mastercard has globally launched its Payment Passkey Service in India, introducing a secure, biometric-based authentication system to streamline online shopping.
This service replaces traditional passwords and OTPs with fingerprint and facial scans, reducing fraud risks in a market where online scams have surged by 300% in two years. In partnership with major Indian payment players and banks, Mastercard’s service secures transactions using tokenization.
Meanwhile, PayPal has expanded its partnership with Fiserv in the U.S., introducing Fastlane by PayPal. This initiative simplifies guest checkouts by integrating PayPal and Venmo services, offering businesses enhanced security and efficiency.
Never a dull moment in the Payments industry 😉 Enjoy more updates I listed for you below and enjoy your weekend!
Cheers,
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PAYMENTS NEWS
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🇺🇸 emerchantpay and Novalnet AG expand successful European partnership to the US market. This partnership aims to enhance Novalnet's capabilities and maximise its merchant growth across the US by facilitating payment acceptance with our innovative payment solutions.
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🇮🇳 Pine Labs & Visa launch soundbox device for QR payments in India. The partnership aims to upgrade the in-store payment experience of millions of merchants across the country who currently rely on only printed QR codes or low-tech solutions.
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🇮🇳 Mastercard selects India for the global launch of its Payment Passkey Service (which speeds up transactions using biometrics). During a keynote presentation at Global FinTech Fest in Mumbai, Mastercard announced the worldwide launch of its new Payment Passkey Service to make online shopping more secure and easier than ever.
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