A year after targeting 100% e-commerce tokenization across Europe, Mastercard announces it has achieved nearly half of its goal.
At the Money 20.20 conference in Amsterdam, Brice van de Walle, executive vice president of core payments for Europe, revealed that the card company has reached 49% e-commerce tokenization in just one year, thanks to strategic partnerships.
“It’s fantastic that issuers, merchants, acquirers, and processors have collaborated with us on this initiative. We’re confident that we’ll reach 100% by 2030, as we are already halfway there,” he stated.
Van de Walle also shared an update on the rollout of biometric payment Passkeys for online shopping, announcing that three primary partners—Dinero, Solidgate, and Utoppia—are now live.
Discussing the significance of tokenization and the benefits of passkeys, he noted, “The biggest friction in e-commerce transactions often comes from authentication. Traditionally, entering a one-time password requires using an app from your bank. With passkeys, consumers can stay on the same device and authenticate using its biometric features, significantly enhancing both conversion and approval rates.”