--- title: "\"Peek into the​ Future of Commerce: Mastercard goes OTP-free for Faster, Safer Online Transactions\" - Powered by Mastercard" description: Discover how Mastercard's Payment Passkey Service revolutionizes online checkouts by eliminating OTPs, enhancing security with biometric authentication for faster transactions. image: https://39936595.hs-sites.com/hubfs/Imported_Blog_Media/Peek%20into%20the_%20Future%20of%20Commerce%20Mastercard%20goes%20OTP-free%20for%20Faster%2c%20Safer%20Online%20Transactions%20-%20Powered%20by%20Mastercard-1200x720-fs.png --- ![](https://39936595.hs-sites.com/hubfs/Imported_Blog_Media/Peek%20into%20the_%20Future%20of%20Commerce%20Mastercard%20goes%20OTP-free%20for%20Faster%2c%20Safer%20Online%20Transactions%20-%20Powered%20by%20Mastercard-1200x720-fs.png) # "Peek into the​ Future of Commerce: Mastercard goes OTP-free for Faster, Safer Online Transactions" - Powered by Mastercard [ GFTN ](https://39936595.hs-sites.com/sff-2024-session-recordings-payments/author/gftn) Nov 15, 2024 12:00:00 AM   The session introduces a new digital checkout process developed by Mastercard using biometric authentication, aiming to eliminate the need for One-Time Passwords (OTPs) during online transactions.   Key highlights   **Problems with Current E-Commerce Transactions**: - Issues such as the complexity of guest checkouts, network failures, OTPs being stolen or shared, and data breaches. **Solution with MasterCard**: - Introduction of MasterCard Payment Passkeys. - The new digital checkout experience proposed by Mastercard, which eliminates entering card details frequently, removes OTPs, and enhances security through tokenization and biometric authentication. - Demonstrated the ease of checkout using face ID for biometrics, highlighting the smooth user experience and security benefits. **Partner Contributions**: - Lenskart's use of technology in their business, including augmented reality and AI, and their excitement about the new payment solutions. - JusPay’s role in handling the complex aspects of payments to let businesses focus on their core operations while ensuring secure, frictionless transactions.   **Conclusion** The session emphasised the new digital checkout process by Mastercard and encouraged viewers to read more about the technology and its future implications in payment processing.   Watch Full Session      Speakers: - Jan Lim, Chief Business Officer, South East Asia, Lenskart - Lalwani Sheetal, Co-founder & Chief Operations Officer, JusPay - Sandeep Malhotra, Executive Vice President, Products & Innovation, Asia Pacific, Mastercard [Payments](https://39936595.hs-sites.com/sff-2024-session-recordings-payments/tag/payments), [Digital Assets & Blockchain](https://39936595.hs-sites.com/sff-2024-session-recordings-payments/tag/digital-assets-blockchain), [Singapore FinTech Festival](https://39936595.hs-sites.com/sff-2024-session-recordings-payments/tag/singapore-fintech-festival), [Video](https://39936595.hs-sites.com/sff-2024-session-recordings-payments/tag/video) ## Read On [![](https://39936595.hs-sites.com/hs-fs/hubfs/Imported_Blog_Media/Road%20to%20G20%20goals_%20How%20to%20make%20payments%20faster%2c%20cheaper%2c%20more%20accessible%20and%20more%20transparent.png?width=352&name=Road%20to%20G20%20goals_%20How%20to%20make%20payments%20faster%2c%20cheaper%2c%20more%20accessible%20and%20more%20transparent.png) ](https://39936595.hs-sites.com/sff-2024-session-recordings-payments/sff-2024-videos-payments/road-g-goals-make-payments-faster-cheaper-accessible-transparent) ### [Road to G20 Goals: How to Make Payments Faster, Cheaper, More Accessible and More Transparent?](https://39936595.hs-sites.com/sff-2024-session-recordings-payments/sff-2024-videos-payments/road-g-goals-make-payments-faster-cheaper-accessible-transparent) {% video_player "embed_player" overrideable=False, type='hsvideo2', hide_playlist=True,... 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