Mastercard Powers Faster, Seamless Online Shopping Experiences for Amazon Customers
June 17 2020 - 3:00AM
Business Wire
Merchants across the globe increasingly adopt
tokenization, eliminating the need to manually update card
credentials and increasing peace of mind at checkout
More and more consumers are going online to purchase everything
from groceries and food delivery to home improvement goods, apparel
and entertainment; as they do, merchants are focused on providing
an increasingly seamless experience. Today, Mastercard announced
that Amazon customers in 12 countries across North America, Latin
America, Middle East and Europe will have their stored card
credentials tokenized. By replacing a consumer’s physical card
number with a token, payment information is unique to each
individual transaction and can be used only by the merchant that
requested it. Amazon will begin using Mastercard tokens for
transactions through 2020.
The rise of e-commerce means more and more consumers are saving
and managing their card details across multiple websites. Amazon
and many other merchants worldwide use Mastercard’s tokenization
technology to ensure the cards consumers store on file stay
seamlessly up to date. Unlike physical cards, network tokens do not
expire – when consumers receive a new physical card from their
bank, their credentials are automatically updated, eliminating the
hassle of reentering their card numbers and eliminating
interruptions during checkout.
Tokenization enables a best-in-class user experience by creating
visual cues, displaying familiar card art that instills trust in a
consumer’s preferred payment method. As Mastercard makes issuer
card artwork available for every user, it helps consumers choose
their preferred payment method more efficiently and increases the
likelihood of a purchase being completed. According to research
from Mastercard and Kantar, 80% of cardholders are likely to
complete a purchase when an image of their specific credit card is
shown1.
2020 has seen consumers worldwide accelerate their shift to
digital payments, making it more important than ever for e-commerce
platforms to make the checkout experience simple and convenient.
Mastercard Digital Enablement Service (MDES) provides the
foundation for a frictionless experience, eliminating the
frustration of managing card information and reducing shopping cart
abandonment.
“The behavioral shift that we are seeing has accelerated in
recent months, but it’s a product of our work to create the
infrastructure and partner ecosystem, for the digitally-savvy
consumer and forward-thinking businesses like Amazon,” said Jorn
Lambert, Executive Vice President, Digital Solutions, Mastercard.
“Mastercard’s work with Amazon and others is a testament to the
strength of our well-established digital product suite – we create
consumer journeys that improve the shopping experience and boost
approval rates.”
MDES is live with more than 2,600 issuers and 1,200 token
requestors around the world, and tokenization of a merchant’s cards
on file is accelerating as we continue to add global players like
Amazon to deliver this solution at scale. Amazon is adopting
Mastercard tokens in the United States, Canada, United Kingdom,
Brazil, France, Germany, Italy, Mexico, Netherlands, Spain, Turkey
and United Arab Emirates; consumers making purchases on the Amazon
online stores serving these countries will experience the benefits
of tokenization.
Notes to Editors
1 Mastercard online study conducted by Kantar and fielded
between August 30 and September 20, 2019. All US participants in
the study are between the ages of 18-100, shop online regularly (3+
times in past six months), own a Mastercard credit or debit card
product, and use guest checkout or a stored card at least some of
the time.
About Mastercard (NYSE:MA)
Mastercard is a global technology company in the payments
industry. Our mission is to connect and power an inclusive, digital
economy that benefits everyone, everywhere by making transactions
safe, simple, smart and accessible. Using secure data and networks,
partnerships and passion, our innovations and solutions help
individuals, financial institutions, governments and businesses
realize their greatest potential. Our decency quotient, or DQ,
drives our culture and everything we do inside and outside of our
company. With connections across more than 210 countries and
territories, we are building a sustainable world that unlocks
priceless possibilities for all. www.mastercard.com.
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Katie Priebe +914-707-9822 Katie.Priebe@mastercard.com Global
Communications
Jennifer Langione +1 (914) 318-2111
Jennifer.Langione@mastercard.com Global Communications
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