Tap Payments & Mastercard Launch World’s First 'Click to Pay' Service with Payment Passkey for eCommerce

Published November 14th, 2024 - 04:49 GMT

Tap Payments & Mastercard Launch World’s First 'Click to Pay' Service with Payment Passkey for eCommerce

During the event.

Highlights

MENA fintech pioneer partners with Mastercard to lead global payment innovation

Revolutionary service transforms eCommerce by eliminating passwords and OTPs

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.

Background Information

Tap Payments

Managing your money is no small task, after all.

But just because we all have to manage our money that doesn’t mean we all necessarily like managing our money… and it doesn’t mean that we’re always the best at it, either. And yet, as business owners and regular consumers alike, we all have to deal with the maddening work of managing our money—every single day, no matter what. You’re probably asking yourself the same questions we were. Isn’t that why we have technology? Weren’t we supposed to be living better and better… not more and more stressed out?

That’s exactly where Tap founders found themselves, once upon a time in the year 2014. Or rather, that’s where they found most Middle Eastern business owners and consumers. They found that, for the world’s leading population of young, wealthy, online savvy, technologically advanced users to still have problems buying and selling things online in their part of the world… Something wasn’t clicking. We live in a world where we didn’t have to deal with drawn out set-up procedures, complicated systems, or inflexible payment methods anymore… but somehow we still were.
We knew there was a better way. And that way was Tap. So, Tap was born in May 2013, in Kuwait—and with it a whole new era of doing business online in the Middle East. Now businesses could finally bill, accept, receive, and make payments online… easier, faster, and smoother than ever before. Payment clearances that used to take days and weeks to setup, now took just a few hours. Integrating local businesses with the global e-commerce platforms became a real possibility.

Now that Tap is around, managing money—and managing it well—became a whole lot cooler.

Company Profile

MasterCard

Electronic payments have the ability to create a world with greater opportunities for all. To take us beyond borders, to new markets. Beyond mere moments, to meaningful experiences. That's the power of a World Beyond Cash®. And that's Priceless®.