Mastercard and PostePay enter into an agreement for faster and more secure digital payments
December 20, 2024 | Milan, ItalyPostePay cardholders will be able to make online purchases more easily and securely thanks to the implementation of the tokenization of 30 million cards and 13 million wallets in Italy.
Mastercard, an international technology company operating in the payments sector, and PostePay, a company of the Poste Italiane Group and leader in the digital payments market in Italy with over 30 million cards issued and more than 13 million digital wallets, today announced a collaboration to further develop the digital payments market in Italy, by simplifying the payment user experience.
The two companies will collaborate to implement innovative solutions in digital payments made possible by tokenization, which will extend to all tools, channels, and platforms both online and in the physical world, for even simpler, faster, and more secure purchasing experiences. They have agreed to work jointly on a broad programme to develop and deploy such services in Italy.
For PostePay, the tokenization of cards, payment wallets, and solutions offered to merchants will reaffirm the company's leadership in innovation in online and physical payments, while also rapidly bringing Italy closer to Mastercard's ambitious goal of tokenizing all payment transactions by 2030. Tokenization replaces the number on the payment card with a secure token, reducing the risk of fraud and improving the approval rate of transactions, especially when combined with technological solutions based on the most advanced market standards, such as Mastercard Click to Pay, the innovative check-out solution for purchases.
Finally, the agreement includes the development of a joint action plan in 2025 to expand the payment and acceptance options available to PostePay card holders, wallet holders and merchants, both online and in-store. The goal is to promote a secure, seamless, and integrated digital experience, making the digital payments sector increasingly cutting-edge through joint efforts in innovation.
About Mastercard (NYSE: MA)
Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re building a sustainable economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.
