MasterCard says it will integrate a fully tokenized checkout experience within MasterPass, leveraging the MasterCard Digital Enablement Service (MDES). MasterPass enables issuers to deliver digital payments across channels and devices around the world, seamlessly extending the trusted relationships consumers have with their banks.
The “Buy with MasterPass” button is currently found within the website and apps of more than 250,000 merchants globally across travel, entertainment, quick service restaurants, retail and more.
At the request of Issuers enabling MasterPass for their customers, MasterCard will replace the personal account numbers (PAN) for consumer credit, debit, commercial and prepaid cards stored in MasterPass with a secure “token” – a new 16-digit number that represents the existing PAN on the front of a payment card. Tokens are unique to each bank-connected MasterPass wallet and carry EMV-based security protection that provides additional peace of mind for consumers and merchants alike.
Since the announcement of MDES in 2013, millions of MasterCard accounts at hundreds of banks have been tokenized for use in popular digital wallet services including Android Pay, Apple Pay and Samsung Pay. MDES currently provides tokenization services for credit, debit, co-brand, prepaid, commercial, private label and small business cards, as well as tokenization services for app, eCommerce, and recurring billing card-on-file programs. The tokenized MasterPass service will first be available in the United States in 2016, and expand across all MDES-enabled markets worldwide.
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