PhonePe and Mastercard have partnered to introduce an exclusive feature for Mastercard cardholders in India, enabling them to make in-store payments by simply tapping their NFC-enabled smartphones at payment terminals using the PhonePe app.
The collaboration aims to deliver secure and seamless Tap and Pay experiences at retail outlets, while also supporting tokenized e-commerce transactions. Cardholders can save their Mastercard credit, debit, and prepaid cards issued in India on their Android smartphones and continue to enjoy the benefits of card-based payments.
By combining Mastercard’s global expertise in tokenization with PhonePe’s base of over 618 million registered users, the feature enhances access to digital payments both in India and abroad. It reinforces the commitment of both companies to strengthen the country’s rapidly growing digital economy.
The new feature offers Mastercard cardholders:
- Secure Tap and Pay in-store payments at NFC-enabled terminals in India and overseas, with tokenization for enhanced fraud protection.
- Safer online shopping with tokenized transactions tied to devices, making stolen credentials unusable elsewhere.
- A faster and simpler checkout experience by saving the card once for future payments through the PhonePe app.
Deep Agrawal, Head of Payments at PhonePe, said, “We’re delighted to collaborate with Mastercard to bring device-based tokenization to millions of PhonePe users. With an increased penetration of NFC enabled smartphones coupled with growing consumer preference towards usage of Tap and Pay using their cards, this functionality marries the two seamlessly. This elevates both convenience and security for users, enabling contactless payments at physical stores and safer online transactions—all within the familiar PhonePe app. We view this association as yet another key step toward delivering a world-class payment experience to PhonePe users across India and when travelling abroad.”
Ravi Datla, Senior Vice President, Products and Solutions, South Asia, Mastercard, added, “Mastercard has always believed in scaling innovation. This collaboration with PhonePe marks a key step in broadening the reach of digital payments by expanding device-based tokenization, empowering Mastercard cardholders exclusively to Tap and Pay at merchant outlets, both within the country and abroad. India plays a pivotal role in setting the pace of digital commerce globally, and Mastercard is proud to support this momentum with solutions that make transactions smarter and safer.”
Users can add their cards securely through a one-time process in the PhonePe app. Once tokenized, payments can be made by selecting the card and tapping the smartphone against a PoS machine or while shopping online. The rollout for Mastercard cardholders will take place in phases.
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