Mastercard Plans to End Manual Card Entry for Online Purchases in Europe by 2030

The way we pay for products and services online is set to transform dramatically in the coming years. Mastercard has announced that, starting from 2030, Europeans will no longer need to manually enter their card numbers when making online transactions. Instead, a randomly generated “token” will replace the familiar 16-digit card number.

This significant shift will enable consumers to make one-click payments using biometric authentication, such as a thumbprint, ensuring a more seamless and secure checkout experience. Mastercard is working closely with banks, fintechs, and merchants to phase out manual card entry in favour of this innovative tokenization method.

Tokenization not only enhances convenience but also boosts security. By replacing card numbers with tokens, Mastercard aims to reduce fraud rates significantly. The company cites that tokenization has been increasing at a rate of 50% annually, securing about 25% of all e-commerce transactions globally across its network.

Valerie Nowak, Executive Vice President of Product and Innovation at Mastercard Europe, highlighted the benefits: “The convenience and reduced rates of fraud sell themselves. We are confident that reaching this vision by 2030 is a win-win-win for shoppers, retailers, and card issuers alike.”

Mastercard moves towards an “embedded” payment system promises to make online payments as smooth as contactless payments in-store, extending to various devices, including smartwatches, home assistants, and even cars. This initiative is part of Mastercard’s broader strategy to stay at the forefront of payment innovation, ensuring secure and effortless transactions for all.