India’s PhonePe has introduced a collaboration with Mastercard to introduce a System Tokenisation answer, revealed on the International Fintech Fest (GFF) 2025.
The initiative integrates Mastercard’s community tokenisation expertise into PhonePe PG’s service provider platform, enhancing safe fee choices for on-line companies.
ixigo, India’s AI-powered journey platform and unique companion for flight, bus, and prepare bookings on PhonePe, has already adopted the answer to allow quicker and safer card funds throughout its apps.
The brand new system permits prospects to avoid wasting their card as soon as on the PhonePe app and use it securely throughout collaborating on-line retailers.
This “save as soon as, use in all places” characteristic removes the necessity to re-enter card particulars for every transaction, providing a constant checkout expertise.
By combining Mastercard’s experience in safe, tokenised transactions with PhonePe’s service provider community, the collaboration goals to simplify the checkout course of and cut back fee drop-offs for companies.
It transforms saved card particulars from a single-merchant operate right into a network-wide functionality, enhancing each comfort and safety.
Following latest regulatory updates, the Reserve Financial institution of India (RBI) now permits different authentication strategies for on-line transactions.
Clients can full funds utilizing PhonePe’s gadget tokens, authenticated by way of gadget biometrics equivalent to fingerprints or facial recognition, as a substitute of one-time passwords (OTPs).
This ensures compliance with RBI requirements whereas enabling faster, safe checkouts.
Ankit Gaur, Head of Fee Gateway and On-line Retailers at PhonePe, stated:
“At PhonePe PG, we’re targeted on making digital funds easier, quicker, and safer. Our collaboration with Mastercard reinforces our shared objective to strengthen fee innovation, improve belief, and assist retailers inside India’s rising digital financial system.”
Satya Padhiary, Vice President of Digital & Fintech, South Asia at Mastercard, stated:
“Mastercard is dedicated to shaping the way forward for digital funds by way of safe and scalable applied sciences. Our partnership with PhonePe goals to speed up India’s digital transformation by offering retailers like ixigo with dependable and seamless transaction experiences.”
This initiative builds on PhonePe PG’s present tokenisation capabilities with Visa, additional broadening its safe fee infrastructure for retailers throughout India.
Featured picture credit score: Edited by Fintech Information Singapore, primarily based on picture by capuchino777 and vector_corp through Freepik
