Mastercard and Google Pay to provide tokenization for payments

Mastercard and Google announced the rollout of tokenization that will enable Google Pay users to safely transact using their Mastercard credit and debit cards while enjoying a hassle-free experience.

Through tokenization, Mastercard cardholders can make payments through a secure digital token without having to share their credit or debit card details such as card number, expiry date, etc. with a merchant.

With this collaboration, Google Pay Android users can scan and pay across all Bharat QR-enabled merchants, tap-and-pay, and make in-app transactions through their Mastercard debit and credit card. For a convenient registration, users will do a one-time setup by entering their card details and their OTP to add their card on the Google Pay app.

Mastercard Digital Enablement Service (MDES) allows payment credentials to be securely tokenized and stored in mobile devices. When making a purchase with a Mastercard debit or credit card using Google Pay, cardholders and merchants will enjoy a similar experience as a regular card-based transaction with enhanced safety and convenience.

Even if the cardholder’s mobile device is misplaced, details of the card still remain secure as they are stored as digital tokens. The token can be updated by the card issuer allowing lost, expired, or replaced cards to be automatically updated with the merchant.

This simplifies the consumer experience and improves success rates by reducing the number of failed transactions on account of expired card details.