Mastercard Wants to Get Rid of Card Numbers for Online Shopping
-- Mastercard Inc. is expanding its efforts to eliminate the use of credit card numbers when customers make purchases online in a bid to fight fraud. A decade after it first unveiled a technology that replaces consumers’ card numbers with so-called tokens, the company is now processing 1 billion such transactions every week, Chief Executive Officer Michael Miebach said in an interview. Now, Mastercard is planning to expand the use of the technology to replace security measures like passwords with biometric data such as fingerprints or face scans, Miebach said. A decade ago, the common thinking was “if you want to keep it safe, protect data and protect transactions through passwords,” Miebach said at Mastercard’s London offices. And then it started to become the vulnerability instead of effective safety and security.” Mastercard and rival Visa Inc. first introduced token technology about a decade ago after fraudsters had targeted the payment systems of retailers including Target Corp. and Best Buy Co., absconding with tens of millions of consumers’ credit card information.
IDF 2012: Intel, MasterCard collaborate to improve online shopping experience
Discover Related
Visa aims to be Apple’s new credit card partner, bids $100 million to replace Mastercard: Report
Income tax, GST, UPI, banking: 5 financial rules changing from April 1
Smart cards to replace registration certificates: U.P. transport minister
Benefits of Having Credit Cards for Last-Minute Shopping
Why do banks keep offering you credit cards? Here’s the real reason
Women's Day 2025: Visa shares 5 security tips for entrepreneurs
RBI’s switch of a domain name for banks won’t really help tackle online fraud
Legal rights against credit card fraud: What every consumer should know
PhonePe Introduces Device Tokenization: A Secure Way to Make Digital Payments
Sebi has a new plan to prevent trading fraud: SIM binding, biometrics and more
SBI, HDFC, Axis, YES Bank: 2025 credit card policy updates you can’t miss
Nationwide Cybersecurity Awareness Initiative to Safeguard India’s Digital Future
RBI Governor announces new internet domains to curb financial frauds
Tourist spot with famous long name teams up with Mastercard to solve payment issued
RBI asks banks to use special number series to prevent fraud
PAN card fraud: Know details, how to stay safe from phishing scam
How to block credit cards permanently? Here are 5 effective methods
Strict SIM rules announced to combat cyber fraud
Who’s misusing your Aadhaar Card? Simple steps to find out and secure it
6 Ways to safely use your Credit and Debit cards in India
Beware of ’digital arrest’ scam, NPCI’s must-know tips to protect your money, identity
Microsoft’s AI Recall Tool Is Still Sucking Up Credit Card and Social Security Numbers