Mastercard and Google Pay tie-up for tokenisation for card-based payments

Mastercard and Google announced a tokenization method that enables Google Pay users to safely transact using their Mastercard credit cards and debit cards. With this collaboration, Google Pay Android users can scan and pay across all Bharat QR-enabled merchants, tap-and-pay, and make in-app transactions through their Mastercard debit and credit card. For a convenient registration, users will have to do a one-time setup by entering their card details and their OTP to add their card on the Google Pay app.

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Mastercard said this initiative is an extension of Mastercard’s long-standing collaboration with Google and will go a long way towards enabling India’s digital economy.

Important takeaways for all competitive exams: 

• Mastercard Founded: 16 December 1966;
• Mastercard Headquarters: New York, United States;
• Mastercard CEO: Michael Miebach;
• Mastercard Executive Chairman: Ajay Banga.

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