PhonePe has partnered with Mastercard to launch device tokenization for its payments gateway, aiming to boost security for online transactions.

PhonePe, an India-based digital payments platform, said the new feature allows customers to save their card details once on the PhonePe app and use them across multiple merchants without reentering information.

The device tokenization initiative, announced at the Global Fintech Fest in Mumbai, leverages Mastercard’s network tokenization technology and aligns with recent Reserve Bank of India regulations allowing alternative authentication methods.

The company said the integration is expected to make checkout faster and reduce transaction drop-offs for businesses.

🔗 Source: The Economic Times

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