Global payment solutions major Mastercard on Tuesday launched a card payment feature that will allow customers to do uninterrupted transactions while shopping online.

Identity Check Express is the next generation, mobile first authentication solution that will eliminate unnecessary friction and enhance security of online transactions without the need to be re-directed to a third website to complete the payment process.

The new feature was showcased at the Global Mastercard Cybersecurity Summit, held for the first time in India, which uses device intelligence and behavioral biometrics, with the latest EMV 3-D secure and FIDO authentication standards to deliver an uninterrupted mobile payment experience.

The solution will help eliminate unnecessary friction and enhance the security of online transactions, it said.

Mastercard, citing its analysis, said up to 20 per cent of mobile e-commerce transactions are abandoned mid-way.

The analysis suggested that the existing methods to verify an identity online can take shoppers away from a merchant's website and are time-consuming due to issues such as consumers being redirected to a browser environment for an in-app payment or mobile network fluctuations.

With Identity Check Express, Mastercard will offer a frictionless payment experience to Mastercard cardholders at leading merchants for an amount less than Rs 2,000 on their trusted mobile devices by sharing a onetime merchant specific consent.

For transactions above Rs 2,000, cardholders will be able to authenticate themselves with a transaction PIN of their choice.

The feature, apart from mobile transactions, will support payments done through desktops as well.

"With the growing spending power and aspirations of Indian consumers fuelling the growth of e-commerce in the country, Mastercard's digital by default DNA drives us to constantly innovate to enhance the convenience and security of digital payments.

"The launch of Identity Check Express does just that for consumers and merchants. Mastercard is ensuring that you are you - without any doubt - by strengthening and simplifying checkout to ensure higher transaction success rates while mitigating fraud," said Ajay Bhalla, President, Cyber and Intelligence Solutions, Mastercard.

Deepak Abbot, Senior Vice President, Paytm said Mastercard is building a simple, easy to use mobile payments system that leverages their extensive card network in India.

"This will undoubtedly accelerate the digital India mission and get many more people to transact using Paytm. Our partnership with Mastercard will benefit Indians in every corner of the country with seamless digital payments capabilities," said Abbot.

The payments solution major has committed an investment of USD 1 billion over the next five years in India as part of its commitment to strengthen and secure digital transactions space. PTI KPM

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