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Take an expert view from Jennifer Macrae on how #mastercard are solving for the 20 year challenge of balancing customer experience & fraud protection.

I’ve spent nearly 20 years going to eCommerce conferences and the debate and struggle with performant checkout design has been consistent. How do you balance consumer convenience and security in online checkout?! This question finally has an answer that is not creating a choice for merchants between one or the other. Mastercard is delivering the technology to reimagine online checkout: 1. Securing every transaction with network tokens 2. Removing manual card entry with Click to Pay 3. Removing passwords from checkout and enabling embedded biometric authentication with payment passkeys 4. Giving shoppers an easy way to access their digital payment credentials anywhere and anytime they need it This is the future of ecommerce, where choosing between convenience and security is no longer a choice a merchant needs to make in their checkout design. #mastercardemployee Jennifer Marriner Jorn Lambert Biz Cozine Tarek Abdelnabi Dino Marcangelo Sapan Mandloi Valerie Nowak Davide Messina Pablo Fourez

🔔 Mastercard’s Vision for 100% E-Commerce Tokenization by 2030 🌍 Mastercard is set to revolutionize online payments by committing to 100% e-commerce #tokenization in Europe by the end of the decade. Tokenization replaces sensitive payment card information with unique tokens, making #transactions more secure and reducing the risk of #fraud. What is Tokenization? 👀 Tokenization substitutes sensitive payment data, like card numbers, with unique, non-sensitive #tokens. These tokens are meaningless to fraudsters, significantly enhancing transaction #security. The tokenization system maps these tokens back to the original data without exposing sensitive information. Why Tokenization Matters? 🤔 🔹 Enhanced Security: Protects sensitive data by using unique tokens instead of actual card numbers. 🔹 Reduced Fraud: Makes it harder for bad actors to misuse payment information. 🔹 Seamless Transactions: Enables quicker and more secure online checkouts. At Lapsa.pro, we’re excited about #innovations that enhance digital payments and #security. Together, let’s embrace the future of online #commerce! 🔗 Learn More: https://lnkd.in/eqiE_qAh #LapsaPro #FinTech #Innovation #Tokenization #Ecommerce #DigitalPayments

Mastercard has set a goal to achieve 100% e-commerce tokenization in Europe by the decade's end, aiming to phase out manual card entry and enhance e-commerce security globally. To tackle online payment fraud, which is projected to exceed $91 billion by 2028, Mastercard is focusing on three key solutions: >Tokenization: Replaces traditional card numbers with secure tokens to reduce fraud and improve approval rates. >Click to Pay Integration: Simplifies the process for merchants to embed Click to Pay on their sites and enables banks to help customers enroll their cards, eliminating manual card entry. >Payment Passkeys: Utilizes biometric authentication on mobile devices to replace passwords and one-time codes, enhancing security and convenience. These measures aim to make online commerce as seamless and secure as contactless in-person payments.

🔥 Mastercard announces Europe goal to achieve 100% tokenization by 2030 🔥   Can we do this? YES!   Here is why:     ✅ Simplicity for consumers. When you pay using contactless method in physical environment, do you expect to be presented with multiple payment methods/login pages/requests for additional info? 🤔 Certainly not. But why do we accept payment complexity when doing online checkout? Tokenization aims to make online checkout seamless and ubiquitous by simply removing manual card entry.       🔐 Security (1) Despite rigorous security solutions put in place by the payments industry, online commerce continues to face vulnerabilities due to bad actors. Tokenization simply replaces the 16–19-digit number on the payment card with a secure token to address exactly that: To help reduce fraud and improve approval rates.       🔐🔐 Security (2). Payment passkeys are leveraging online mobile device-based biometric authentication to eliminate passwords and one-time codes.   To explain it in lamest terms, when biometric authentication is being used (facial recongnition, behavioral, voice recognition etc), cardholders will not have to authenticate the transaction through the app or via OTP. A biometric identifier is personal and cannot be guessed or stolen. 👏 It is certainly exciting to see how quickly tokenization technology is advancing to help to keep cardholder's information safe and secure, whilst streamlining their checkout experience.   https://lnkd.in/emVUcsUf

Mastercard announced last week it’s commitment to achieving 100% e-commerce tokenization in Europe by 2030. This means replacing traditional card numbers with secure tokens, reducing fraud risk and improving approval rates by integrating Click to Pay functionality on merchant sites. With this, Mastercard aims to eliminate manual card entry. When you shop online, you won’t need to type in your card details manually. Just like in physical stores, where you can tap your card or mobile device to authenticate and authorize a transaction in a split second, online payments should be just as simple, secure, and convenient. At the moment, Mastercard’s tokenization service already secures 25% of global e-commerce transactions but our goal is to make all transactions - whether in physical stores or online - safer and more accessible for everyone. #innovation #wearemastercard #mastercardemployee

Exciting news in e-commerce! Alternative payments surged to nearly 58% of transactions in 2023, led by mobile wallets and digital options. Say goodbye to cash! This shift shows the rising appeal of digital transactions. It's a game-changer for online shopping! Read More: https://lnkd.in/eJii-iEF #Ecommerce #DigitalPayments 🚀💳

The latest findings from Worldpay's #GlobalPaymentsReport unveil a transformative shift in Brazil's #eCommerce landscape, with #Pix emerging as a force, capturing a notable 30% share of all transactions. This surge not only reflects the growing preference for instant payments but also underscores #Brazil's position as a digital frontrunner in #LatinAmerica. As the tenth-largest e-commerce market globally, Brazil's $95 billion in transactions showcases a robust digital economy on the rise. Looking ahead, the report's projections paint a compelling picture of #digitalwallets taking the lead in e-commerce payments by 2027, outpacing traditional credit cards. This evolution not only simplifies payment processes but also sets the stage for enhanced security and convenience for consumers and businesses alike. Learn more in this great read by EXAME: http://spr.ly/6045jthxP

Is the future of e-commerce tethered to the evolution of payment systems? 💳 In a rapidly evolving digital marketplace, how we pay for goods and services is undergoing a fascinating transformation. From cryptocurrencies to mobile wallets, the innovation in payment systems is not just changing how transactions occur but also shaping consumer behavior and expectations. This integration plays a pivotal role in enhancing customer experience, improving security protocols, and enabling seamless global commerce. As businesses, staying abreast of these changes isn’t just beneficial; it's crucial for survival and growth. Embracing these advancements means not only meeting customers where they are but also anticipating where they're headed. As we look forward to the next wave of digital transformation, what's your strategy for integrating new payment technologies into your e-commerce platform? Let’s discuss how staying at the forefront of payment solutions can be your business's game-changer in conquering global markets. #ecommerce #paymentsystems #digitaltransformation #customerexperience

The latest findings from Worldpay's #GlobalPaymentsReport unveil a transformative shift in Brazil's #eCommerce landscape, with #Pix emerging as a force, capturing a notable 30% share of all transactions. This surge not only reflects the growing preference for instant payments but also underscores #Brazil's position as a digital frontrunner in #LatinAmerica. As the tenth-largest e-commerce market globally, Brazil's $95 billion in transactions showcases a robust digital economy on the rise. Looking ahead, the report's projections paint a compelling picture of #digitalwallets taking the lead in e-commerce payments by 2027, outpacing traditional credit cards. This evolution not only simplifies payment processes but also sets the stage for enhanced security and convenience for consumers and businesses alike. Learn more in this great read by EXAME: http://spr.ly/6044jN9fo