Mastercard and Google together announced the rollout of tokenization for Google Pay users, enabling them to make hassle-free transactions using Mastercard credit and debit cards. Through tokenization, Mastercard cardholders are able to make payments through a secure digital token without having to share their credit or debit card details such as card number, expiry date etc.

Google pay android users are provided with the facility to scan and pay across Bharat QR-enabled merchants, tap-and-pay, and make in-app transactions through Mastercard debit and credit card. For registration, users can do a one-time setup by entering card details and OTP to add their card on the Google Pay app.

Sajith Sivanandan, Business Head , Google Pay and NBU - APAC says, “this (card tokenisation) is already live for several credit card issuers on Mastercard, and we are working closely with other banking partners to further expand the adoption of tokenization in India. We are hopeful that the added simplicity and convenience will make an ever-larger base of users feel secure in making more payments digitally.”

Nikhil Sahni, Division President, South Asia & Country Corporate Officer, Mastercard says, “tokenization enables an additional layer of security for payments, which reduces friction and improves the shopping experience. It will redefine the current payment ecosystem by enabling a safe experience for the consumer and facilitate millions of mobile- first users from remote locations in migrating towards a cashless society. This initiative is an extension of Mastercard’s long standing collaboration with Google and will go a long way towards enabling India’s digital economy.”

Mastercard Digital Enablement Service allows payment authorizations to be securely stored in mobile devices. If a card is lost, expired or replaced, the user can update the token.

“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,” adds the Company.