Mastercard aims to revolutionize the digital payments universe by replacing all its credit cards with other innovative tools.
Mastercard aims to revolutionize the digital payments landscape by replacing all its credit cards with innovative new tools. In its ongoing effort to reshape the world of payments and redefine how we pay online, Mastercard has announced plans that could ultimately eliminate all its credit cards.
The old Mastercard, as we know it, may soon become a thing of the past.
However, users need not worry. The cards will be replaced by a new technology designed to revolutionize the market and transform how payments are made.
The global leader in the payments sector is reportedly working on a cutting-edge payment system that could render traditional credit cards issued by banks obsolete.
This new solution—powered by random tokens and biometric technology—aims to provide users with a payment system that is not only faster and more secure but also more convenient.
As a result, the use of cash will continue to decline, while credit and debit cards will gradually be replaced by a method promising to accelerate purchases.
Mastercard confirms the transition starting from this date
The new payment system promoted by Mastercard is set to replace the credit and debit cards issued by all banks, as confirmed by the company itself.
This system, as outlined by Mastercard, relies on random tokens and biometric technology. By generating a unique numeric code for each transaction, the user’s personal information is protected, and the risk of fraud is minimized.
In this payment process, personal data is not shared, shielding consumers from potential scammers. Additionally, biometric identification methods, such as palm scanning, would make traditional PINs and passwords obsolete.
Currently, this revolutionary technology is utilized in 25% of purchases globally. According to Mastercard, it will power 100% of user transactions by 2030.
This ambitious goal, if achieved, would result in the complete elimination of traditional credit and debit cards worldwide.
Original article published on Money.it Italy 2024-11-15 15:33:00. Original title: “Mastercard è morta”. Annullate tutte le carte, arriva un nuovo metodo di pagamento
