Yuno is introducing Mastercard Payment Passkey Service in Latin America, enabling merchants in Brazil, Argentina, and Chile to improve online checkout processes, enhance fraud protection, and reduce cart abandonment rates.

Fraud remains a major challenge in Latin America, where e-commerce merchants lose over 4.6% of revenue to payment fraud. Fraud attempts in the region rose by 32% in 2024—the highest increase globally.

Mastercard Payment Passkey Service enhances transaction security by using biometric authentication, such as fingerprints and facial recognition, instead of one-time passwords (OTPs), which are vulnerable to scams like phishing and SIM swapping.

The service also employs tokenisation technology to prevent sensitive data from being shared or exploited in data breaches.

James Stack, Head of Product at Yuno, said:

“Mastercard Payment Passkey Service is a major leap forward in online transaction security. By leveraging advanced tokenisation and biometric authentication, it significantly reduces the risk of fraud and protects sensitive data from cyber threats.”

Silvana Hernandez, Executive Vice President, Core Products at Mastercard for 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.”

The service builds on Mastercard Click to Pay, which Yuno introduced to merchants in November. Click to Pay removes the need for manual card entry, functioning similarly to a digital wallet to enable quicker payments.

Beyond Click to Pay, Yuno provides access to over 1,000 global payment methods, smart routing technology, and payment orchestration.

Backed by investors including Andreessen Horowitz, Tiger Global, and DST Global Partners, Yuno is expanding across Europe, Asia, and the US.

Featured image credit: edited from freepik