Mastercard enables 200,000 merchants for card-on-file tokenisation

Mastercard said it worked with 45,000 merchants, 34 issuing banks, 10 acquiring banks, and 30-plus token requestors (including all major payment aggregators) to create 90 million tokens

Global cards player Mastercard on Tuesday said it enabled around 200,000 online merchants across the country with card-on-file tokenisation.

Tokenisation replaces an actual or clear card number with an alternative code called the ‘token’. A tokenised card transaction is considered safer as the actual card details are not shared with the merchant during transaction processing, which helps cut the chances of information leakage. More than 200 million tokens have been created across networks, including Mastercard, since December 2021. 

Mastercard said it worked with 45,000 merchants, 34 issuing banks, 10 acquiring banks, and 30-plus token requestors (including all major