3 Questions to Valerie NOWAK about Tokenisation & Payment

TRUSTECH 2024 is gearing up for an eagerly awaited keynote from Barbara SESSA, Senior Vice President - Digital Consumer Products Europe at Mastercard Europe. On Wednesday, 4th December 2024, she will provide an in-depth look at how tokenisation is reshaping payment security and revolutionising user experience.

She is a prominent leader in the financial technology sector, and she has played a pivotal role in advancing cutting-edge payment solutions. Drawing on her extensive experience in fintech, her session will provide an insightful and forward-looking analysis of how tokenisation is tackling the industry's most critical challenges.

How tokenisation is revolutionising payment safety and simplicity ?

During her keynote, she will discuss the transformative impact of tokenisation on the payment sector. As consumers increasingly demand faster and more secure payment options, Mastercard aims to eliminate manual card entries by 2030. Tokenisation, which replaces card numbers with randomly generated tokens during transactions, ensures sensitive information remains protected.

This technology not only enhances security by reducing the risks of fraud and data breaches but also streamlines the payment process. For consumers, it removes the friction of manual card entries and passwords, providing a seamless, secure experience across devices and platforms. Merchants, payment service providers, and banks also benefit from reduced security risks and operational burdens, fostering greater trust in digital transactions.

Navigating the security frontier : innovations for a safer payment future

In addition to Barbara's keynote, Mastercard with Valerie NOWAK, Chief Product & Innovation Officer, has offered thought-provoking insights in an exclusive interview, addressing key questions relevant to professionals throughout the industry.

As 2024 approaches, the payment industry is under increasing pressure to address the growing threat of fraud. The rise in online transactions has provided more opportunities for cybercriminals, with stored card information across multiple platforms heightening the risk of breaches. It is estimated that by 2028, losses from online payment fraud could exceed $91 billions globally, underscoring the need for innovative solutions.

Tokenisation offers a critical defence against these threats. By ensuring that actual card details are never exposed during transactions, this technology strengthens payment security while simplifying the user experience. This innovation also requires no extra effort from consumers, making automatic payments faster and more secure.

During TRUSTECH 2024, attendees will also get a preview of the latest developments from Mastercard, including the goal to remove manual card entry for e-commerce across Europe by 2030. This includes the introduction of a one-click payment button designed to work across various online platforms, replicating the ease of face-to-face payments in a digital environment and setting new standards for convenience and security.

Martercard’s presentation at TRUSTECH 2024 is poised to deliver crucial insights into the future of payment security and user experience, showcasing ongoing commitments to pioneering new technologies in the digital payments landscape.