xMoney Becomes the First Mastercard Issuer in the World to Launch Mastercard Payment Passkey

Online payments have improved a lot over the past decade, except for one moment: authentication. Passwords, one-time codes, and redirects were added to keep transactions safe, but every extra step is a chance for a payment to be abandoned or interrupted.

Today that changes.

xMoney is the first Mastercard issuer in the world to launch Mastercard Payment Passkey, Mastercard's new authentication solution for tokenized transactions. And since Click to Pay is already available through xMoney, we are also the first issuer globally to offer both technologies together.

How it works

Payment Passkey replaces passwords and one-time codes with biometric verification built on FIDO standards. Instead of waiting for an SMS code, cardholders confirm eligible online payments on their own device with a fingerprint or face scan, the same way they already unlock their phone.

Biometric data stays encrypted on the device. It is never shared with Mastercard, xMoney, or the merchant. Once authenticated, the confirmation appears right in the app or website where the purchase is happening, so there is nothing to redirect to and nothing to wait for.

Why it matters

Every extra step at checkout costs sales. According to the FIDO Alliance, passkeys cut authentication abandonment by up to 50% and make payment confirmation four times faster. Biometric authentication is also associated with fraud levels 2.5 times lower than one-time passwords.

Consumers get fewer interruptions. Merchants get higher conversion and less fraud. The flow also meets strong customer authentication requirements out of the box.

Payment Passkey works in any tokenized payment flow, including Click to Pay checkouts and card-on-file purchases where a card is saved with a merchant.

A new standard for digital payments

"The launch of Mastercard Payment Passkey, together with Click to Pay, reflects our commitment to building payment experiences that combine security, compliance, and usability without compromise. Becoming the first Mastercard issuer in the world to offer this capability is an important milestone, not only for xMoney, but for the future of digital payments." — Greg Siourounis, Co-Founder & CEO xMoney

The best checkout is one you barely notice, with the security doing its work in the background. This launch gets our cardholders a big step closer to that.