Mastercard Tokens Work With Amazon; E-Commerce Rose $53B in Pandemic
Mastercard began tokens for transactions in 12 countries including the U.S., working with companies including Amazon. This replaces a physical credit card number and payment information is unique to each transaction and can be used only by the merchant that…
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requested it, the card issuer said Wednesday. More consumers are saving and managing payment card details across websites, it said: Merchants worldwide use its tokenization technology. A May Mastercard report said more than $53 billion in incremental spending occurred on e-commerce in the U.S. vs. what's typical, due to the pandemic. Consumers “adapted to a new reality,” moving to the internet to acquire goods and services, said the report. The company didn't respond to questions on the token rollout.