Tap Payments has teamed up with Mastercard to introduce Click to Pay with Payment Passkey, a groundbreaking development that is set to redefine online shopping. This collaboration marks the first global rollout of its kind, combining cutting-edge biometric technology with enhanced payment security to deliver a faster and more secure checkout experience.
A New Era of Online Shopping
Click to Pay with Payment Passkey allows consumers to authenticate their online transactions with biometric data such as a fingerprint or facial recognition, eliminating the need for passwords or one-time passcodes. This innovation simplifies the checkout process while ensuring robust security, putting consumers firmly in control of their digital transactions.
Why It Matters
Recent data highlights that 90% of global consumers favour biometric authentication over traditional passwords. As online fraud and scams increase, reliance on outdated password systems poses significant risks. Payment Passkey addresses these challenges by integrating advanced biometric security with seamless usability.
How It Works
- Select a securely stored Mastercard at checkout.
- Authenticate with a fingerprint or facial recognition.
- Complete the transaction in seconds.
The system also recognises returning customers via their device or email address, streamlining future purchases.
Setting New Standards in Security and Innovation
Click to Pay with Payment Passkey leverages tokenization, biometric authentication, and intelligent customer recognition to safeguard transactions. The solution adheres to global security standards, including those set by EMVCo, the World Wide Web Consortium (W3C), and the FIDO Alliance. This ensures a fortified yet efficient shopping experience for consumers and merchants alike.
Ali Abulhasan, Co-Founder and CEO of Tap Payments, emphasised the significance of this collaboration:
“At Tap Payments, we are committed to providing our customers with unparalleled payment capabilities. Each digital transaction represents a moment of trust between merchants and shoppers, which is why we continuously prioritise robust security measures. Our latest collaboration with Mastercard pushes the boundaries of innovation in eCommerce, making online payments more secure, faster, and easier than ever before.”
Maria Parpou, Executive Vice President at Mastercard Gateway, highlighted the broader impact:
“Our partnership with Tap Payments introduces a new standard in secure, seamless online transactions for the MENA region. By integrating Click to Pay with Payment Passkey, Mastercard is elevating the eCommerce experience, ensuring shoppers can transact confidently with ease, supported by technology that prioritises both security and convenience.”
Benefits for Consumers and Businesses
For shoppers:
- Faster checkouts with enhanced security.
- Elimination of password management.
- Built-in fraud protection.
- Assurance of payment detail privacy.
For merchants:
- Higher conversion rates through seamless transactions.
- Reduction in cart abandonment rates.
- Lower fraud risk due to advanced security measures.
- Easy integration with existing payment systems.
Expanding Horizons
This innovative solution will first launch in the UAE before expanding across Eastern Europe, the Middle East, and Africa. Tap Payments and Mastercard are setting the stage for a transformative shift in digital payments, aiming to redefine how consumers and businesses engage in eCommerce.
