Mastercard has expanded its digital payment capabilities in Latin America through a new partnership with global payments orchestrator Yuno, launching its Payment Passkey Service across the region with an initial focus on Brazil. The implementation builds upon Mastercard’s broader initiative to modernize payment authentication, replacing traditional one-time passwords (OTPs) with more secure biometric verification methods.
The Payment Passkey Service implementation aims to streamline payment operations for merchants across Latin America, enabling them to process transactions and collect payments from multiple customers more efficiently. The system meets the growing demands of the instant economy, where rapid and secure payment processing has become increasingly critical. The development supports Mastercard’s larger strategic shift toward digital authentication, including its recently announced plan to phase out traditional 16-digit card numbers by 2030 in favor of digital tokens.
For merchants operating in Brazil and other Latin American markets, the service offers enhanced operational efficiency by automating payment processes that previously required manual handling. The automation allows businesses to reallocate resources to other strategic initiatives while maintaining robust payment security. The implementation carries particular importance in Brazil, where Mastercard has been actively working to expand financial inclusion initiatives and digital payment adoption.
The solution is expected to deliver an improved checkout experience for consumers, with faster transaction processing times and enhanced security measures. The improvements reflect the broader digital transformation of payment systems across Latin America, where both merchants and consumers are increasingly adopting digital payment solutions. The passkey service uses device-based biometrics for authentication, following FIDO Alliance standards that have been widely adopted for secure, passwordless authentication across various industries.
The partnership represents a strategic advancement in payment technology for the Latin American market, combining Mastercard’s global payment infrastructure with Yuno’s regional expertise in payment orchestration. The collaboration extends Mastercard’s ongoing efforts to strengthen its digital identity services in the region, including previous partnerships with local technology providers to develop comprehensive digital identity solutions for Latin American consumers.
Sources: Financial IT, Yuno, Cyber Defense Magazine
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