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Mastercard and Google Pay to tokenise card-based payments

Tuesday 21 December 2021 11:02 CET | News

Google Pay and Mastercard have announced the roll out of tokenisation that enables Android users in India to add another security layer when transacting through their Mastercard cards.

Google Pay Android users can scan and pay across all Indian QR-enabled merchants, tap-and-pay, and make in-app transactions through their Mastercard debit and credit card.

Through tokenisation, Mastercard cardholders can make payments through a secure digital token without having to share their credit or debit card details such as card number and expiry date with a merchant. For registration, users will do a one-time setup by entering their card details and their OTP to add their card on the Google Pay app.

Mastercard company officials stated that this solution will aim to enable a safe experience for the consumer and facilitate mobile- first users from remote locations in migrating towards a cashless society.


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Keywords: Google Pay, Mastercard, partnership, tokenization, debit card, credit card, fraud prevention
Categories: Fraud & Financial Crime
Companies:
Countries: World
This article is part of category

Fraud & Financial Crime