Mastercard has announced plans to eliminate manual card entry and passwords by 2030, transitioning to a system based on tokenization and biometric authentication for online payments. This initiative builds upon the company’s recent launch of its Payment Passkey Service and represents a significant evolution in the company’s ongoing efforts to enhance payment security while improving the user experience. Currently, over 30 percent of Mastercard transactions globally are tokenized, with some markets like India approaching 100 percent tokenization for e-commerce transactions. Tokenization technology replaces sensitive card data with unique digital tokens, significantly reducing the risk of fraud while maintaining transaction functionality. The company’s data indicates that tokenization has improved transaction approval rates by 3-6 percentage points, generating up to $2 billion in additional monthly global sales for merchants. The payment giant’s research shows that 90 percent of consumers globally consider biometric authentication methods, such as facial scans or fingerprints, more secure and convenient than traditional passwords. This aligns with broader industry trends, as demonstrated by similar initiatives from competitors like Visa who have also embraced passkey technology for payment authentication.