- MENA fintech pioneer partners with Mastercard to lead global payment innovation
- Revolutionary service transforms eCommerce by eliminating passwords and OTPs
Dubai, UAE; 13 November 2024: Tap Payments, one of the leading payment institutions and technology providers in the Middle East and North Africa, has partnered with Mastercard to launch the world's first Click to Pay with Payment Passkey service, marking a breakthrough in secure online shopping globally.
Payment Passkeys transform the online shopping experience, eliminating cumbersome One-Time-Passwords (OTPs) in favor of simple biometric authentication like fingerprints or facial scans. This innovation, launched on Mastercard's Payment Gateway by Tap Payments, makes transactions both faster and more fraud-resistant.
Global consumer demand is clear: Mastercard research reveals 90% of consumers prefer biometric security over traditional passwords. The new service combines Click to Pay's secure tokenization with biometric verification, creating a fortress around consumer data. Returning shoppers are automatically recognized through their device or email, streamlining the checkout process while maintaining top-tier security.
“At Tap Payments, we are committed to providing our customers unparalleled payment experiences. We believe that every digital transaction is a moment of trust between merchants and shoppers, which is why we continue to implement robust security measures. Our latest collaboration with Mastercard is pushing the boundaries of innovation in eCommerce, making online payments easier, faster and more secure than ever,” said Ali Abulhasan, Co-Founder & CEO Tap Payments.
“Our partnership with Tap Payments introduces a new standard in secure, seamless online transactions. By integrating Click to Pay with Payment Passkey, Mastercard is elevating the eCommerce experience, ensuring shoppers can transact confidently with ease, supported by technology that prioritizes both security and convenience,” said Maria Parpou, Executive Vice President, Mastercard Gateway.
Initially launching in the UAE, this pioneering service will expand across Eastern Europe, Middle East and Africa, reinforcing MENA's position as an emerging fintech hub.
The technology unites industry standards from EMVCo, World Wide Web Consortium (W3C), and FIDO Alliance to create a comprehensive secure payment ecosystem.