- Mastercard teams up with Sympla and Yuno to introduce Payment Passkey Service in Latin America, starting in January.
- The Payment Passkey Service uses biometrics to simplify and secure online transactions, reducing fraud and enhancing convenience for consumers and e-commerce businesses.
What happened: Mastercard Payment Passkey debuts
Mastercard has partnered with Brazil’s leading events platform, Sympla, and Latin American payments orchestrator Yuno to introduce its Payment Passkey Service in the region. Starting in January, these companies will be the first to offer the service, followed by a broader rollout. The Payment Passkey Service simplifies online transactions by using biometrics—such as fingerprints or facial scans—instead of passwords or OTPs. This makes payments faster, more convenient, and more secure, reducing the risk of fraud. Mastercard’s research reveals 90% of consumers globally trust biometrics over passwords, with 85% of Latin American respondents preferring it for online transactions.
Using Mastercard’s tokenisation technology, payment passkeys replace sensitive card details with a token, ensuring data remains secure, even in the event of a breach. Consumers can select their Mastercard at checkout and authenticate using their device’s biometric features. For e-commerce businesses, this means fewer abandoned carts and lower fraud risk, while issuers benefit from enhanced security.
“Partnering with Sympla and Yuno is a major step towards improving payment security in the region,” said Silvana Hernandez, Mastercard’s EVP of Core Products for Latin America and the Caribbean. Sympla’s Marina Teixeira added, “The Payment Passkey Service strengthens our commitment to security and reinforces our position as Brazil’s most trusted platform.” Juan Pablo Ortega, CEO of Yuno, noted, “Passkeys align with our strategy to adopt innovations quickly and drive a better payment experience.”
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Why it is important
The Mastercard Payment Passkey Service is a significant step in improving online payment security. By using biometrics like fingerprints or facial scans, it replaces traditional passwords and OTPs. This enhances both speed and convenience while reducing fraud risk. Mastercard’s research shows that 90% of consumers trust biometrics over passwords, and 85% of Latin Americans prefer it for transactions.
The service uses tokenisation, replacing sensitive card data with secure tokens, which prevents fraudsters from accessing valuable information. This security boost is crucial in an era of rising cyber threats. For consumers, the process is simple—select a card and authenticate with biometrics. E-commerce businesses benefit from lower fraud and fewer abandoned carts.
In addition, this partnership with Sympla and Yuno shows Mastercard’s commitment to leading innovation in the region. It promises to make online transactions more secure, easier, and faster for both consumers and businesses.
