Mastercard has unveiled plans to phase out traditional 16-digit card numbers by 2030, marking a significant shift in payment technology. The initiative builds upon the company’s recent moves toward passwordless authentication and represents part of a broader strategy to enhance security through advanced technologies like tokenization and biometric authentication.
The transition away from visible card numbers addresses the persistent challenge of payment fraud. Instead of static numbers, Mastercard will implement tokenization technology that generates unique encrypted tokens for each transaction, making it more difficult for criminals to steal or misuse payment credentials. The approach follows EMVCo tokenization standards that have become increasingly prevalent in digital payments.
Under the new system, users will authenticate transactions using biometric methods such as fingerprints or facial recognition. The change is designed to create a more secure payment ecosystem while reducing risks for merchants and banks by minimizing fraud and chargebacks. The shift follows Mastercard’s successful implementation of its Payment Passkey Service, which has already demonstrated the viability of biometric authentication in markets like Latin America.
The implementation will begin in Australia, where AMP Bank has been announced as the first institution to offer numberless debit cards. Additional financial institutions are expected to adopt the technology within the next year, supported by Australia’s progressive stance on digital payment modernization.
“We are focused on advancing economic growth through innovative digital payment solutions and partnerships,” said Shehryar Ali, Mastercard’s Senior Vice President and Country Manager for East Africa and Indian Ocean Islands.
“Fintech companies are playing a crucial role in transforming the payment landscape through mobile payments, digital wallets, and blockchain technology,” said Sadiki Nyanzowa, Acting Director for Financial Deepening and Inclusion at BoT.
The transition to numberless cards represents an evolution in payment security that affects multiple stakeholders. For consumers, it provides enhanced protection against fraud and data theft. Merchants benefit from reduced fraud risks and fewer chargebacks, while banks and payment providers gain a more secure transaction environment. The initiative also complements Mastercard’s broader digital transformation strategy, which includes the development of various biometric authentication solutions and digital identity services.
Sources: Techjaja, tralac trade law centre, ReportLinker, AccomNews
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