The move by Mastercard aligns its payment experience with other popular modes in India like UPI Intent.

Mastercard (NYSE: MA) has introduced CVC-less (Cardholder Verification Code) online transactions for tokenized debit and credit cards in India. This move aims to enhance security and streamline the payment process. CVC is the three-digit number printed on the back of debit and credit cards.

Following Reserve Bank of India guidelines, merchants will only collect CVC once during tokenization, and subsequent transactions will require selecting the tokenized card, confirming an OTP, and completing the payment.

This innovation has been adopted by e-commerce platforms like Cashfree Payments and Zomato (NSE: ZOMATO), offering benefits such as improved authorization rates, reduced checkout abandonment, and a smoother customer payment experience.

Mastercard’s token-based transactions offer enhanced security features, user identity authentication, and domain control, ensuring safe and controlled transactions.

This initiative underscores Mastercard’s commitment to secure and seamless payment experiences for Indian cardholders and merchants.

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