Global payments orchestrator Yuno is launching the Mastercard Payment Passkey Service across Latin America, enabling merchants in the region to streamline online checkout processes and enhance fraud protection.
Following the launch by Yuno, merchants in Brazil, Argentina, and Chile can replace increasingly vulnerable traditional authentication methods, such as one-time passwords, with Mastercard Payment Passkey Service, which uses device-based biometrics, such as fingerprints and facial recognition already available on smartphones, to authenticate purchases.
Mastercard Payment Passkey Service also leverages tokenisation technology to ensure that sensitive data is never shared with third parties and remains useless to fraudsters in the event of a data breach, making transactions even more secure.
This technology promises to not only boost the security of online transactions, but also to significantly reduce cart abandonment rates by increasing convenience for merchants’ customers.
