Yuno, the leading global payments orchestrator, announces it is launching Mastercard Payment Passkey Service across Latin America, enabling merchants in Brazil, Argentina, and Chile to streamline online checkout processes, enhance fraud protection and significantly reduce their cart abandonment rates.

With the launch of payment passkey, Yuno solidifies its position as the leading provider of Mastercard’s sought-after Click to Pay technology in Latin America, where transaction simplicity and security are especially important. Studies indicate that merchants lose more than 4.6% of their e-commerce revenue to payment fraud in the region, with overall fraud attempts surging by 32% in Latin America in 2024 versus the previous year – the largest increase of any region.

Mastercard Payment Passkey Service boosts the security and convenience of online transactions by using device-based biometrics, such as fingerprints and facial recognition already available on smartphones, to authenticate purchases. This replaces traditional authentication methods, such as one-time passwords (OTPs), which have become increasingly vulnerable to online scams like phishing, SIM swapping, and message interception. The service also leverages advanced tokenization technology to ensure that sensitive data is never shared with third parties and remains useless to fraudsters in the event of a data breach, making transactions even more secure.

James Stack, Head of Product at Yuno, commented:

“Mastercard Payment Passkey Service is a major leap forward in online transaction security. By leveraging advanced tokenization and biometric authentication, it significantly reduces the risk of fraud and protects sensitive data from cyber threats. As the leading provider of Mastercard Click to Pay technology in Latin America, we’re proud to offer merchants a solution that not only streamlines the checkout process but also ensures the highest level of security for both businesses and customers in a region where fraud has been a persistent challenge.”

Silvana Hernandez, Executive Vice President, Core Products, Mastercard, Latin America and the Caribbean, added:

“Mastercard is committed to bringing convenience and security to the payment experience. The enablement of Mastercard Payment Passkey through our partnership with Yuno is an important step towards the advancement of digital payments in Latin America and the Caribbean.” 

Mastercard Payment Passkey Service strengthens the company’s existing Click to Pay solution, which was introduced to Yuno-enabled merchants in November and seeks to make the checkout process simpler and more seamless for customers by removing the need for manual entry of card details. Functioning much like a digital wallet, Mastercard’s Click to Pay solution enables shoppers to pay with ease in just a single click. 

In addition to Mastercard Click to Pay with Passkey service, Yuno’s platform also offers merchants quick access to over 1000 different global payment methods, proprietary smart routing technology and end-to-end payment orchestration, rendering it a one-stop shop for all merchant’s payment needs. Supported by top tier global investors such as Andreessen Horowitz, Tiger Global, and DST Global Partners, the company continues to expand rapidly across Europe, Asia, and the US.