Mastercard has announced the launch of its Payment Passkey Service in Latin America, introducing a new authentication system that uses device-based biometrics to enhance security and simplify online transactions. The service will debut in January 2025 through partnerships with Sympla, a leading Brazilian events platform, and Yuno, a Latin American-based global payments orchestrator. The expansion follows Mastercard’s broader initiative to eliminate passwords by 2030 in favor of more secure authentication methods. he Payment Passkey Service replaces traditional authentication methods like one-time passwords (OTPs) with biometric verification, such as fingerprints or facial scans. Building on FIDO-based passkey standards that have gained significant industry adoption, the system uses tokenization technology to substitute primary account numbers (PANs) with secure tokens, preventing the sharing of card information with third parties and protecting against data breaches. Source: mobileidworld.com