Yuno, a payment orchestration provider, has announced its plans to launch Mastercard Payment Passkey Service across Latin America, allowing merchants to improve the online checkout process and scale fraud protection.
Through this move, Yuno aims to support merchants in Brazil, Argentina, and Chile in simplifying the online checkout process, augmenting fraud protection, and minimising card abandonment rates. By launching payment passkeys, Yuno plans to solidify its position as a provider of Mastercard’s Click to Pay technology in the region, where transaction convenience and security are critical.
The initiative was initially announced by Mastercard back in December 2024, when the company, in collaboration with Sympla and Yuno, intended to introduce the Mastercard Payment Passkey Service in Latin America. Sympla and Yuno were set to be among the first partners in the region to offer the solution to their customers.
Commenting on the news, representatives from Yuno underlined that Mastercard’s solution substantially minimises the risk of fraud and safeguards sensitive information from cyber threats. The company aims to provide the service to merchants and support them in simplifying the checkout experience while also ensuring scaled levels of security for both businesses and customers in Latin America, where fraud has been a persistent issue.
Furthermore, besides Mastercard Click to Pay with Passkey service, Yuno’s platform provides merchants with access to over 100 global payment methods, smart routing technology, and payment orchestration. Currently assisted by global investors like Andreessen Horowitz, Tiger Global, and DST Global Partners, the company intends to centre its efforts on further expanding its operations across Europe, Asia, and the US.
How does Mastercard Payment Passkey Service work?
Mastercard Payment Passkey Service focuses on scaling the security and convenience of online transactions by leveraging device-based biometrics, including fingerprint identification and facial recognition, which are already available on smartphones, to authenticate purchases. This comes as a replacement for traditional authentication methods like OTPs, which in recent years have become susceptible to online scams such as phishing, SIM swapping, and message interception. Additionally, the solution utilises tokenization technology to ensure that sensitive data is not shared with third parties and fraudsters cannot use it in the event of a data breach, in turn making transactions more secure for customers.
This article originally appeared in The Paypers.
