He advancement of technology It has changed the way we do many things in our daily lives. One of these spaces that technology has transformed forever is how we shop.
A world governed by online shopping
Online shopping has become habitual and frequent for many people, so much so that now the rare one is the one who continues to go to the supermarket to make their purchase.
One of the biggest drawbacks of buying online is the exhausting process of having to write down your credit card number every time you want to buy something online. I know it’s true that you have the option of saving the card in the browser to avoid this hassle, but It’s not exactly safe.
What does the change consist of?
In any case, Mastercard aims to change credit cards as we know them. In the early hours of this Wednesday, June 12, they announced that It will no longer be necessary to include that 16-digit numberwhich, unlike other information that is usually requested when purchasing via computer, is not easy to remember.
Mastercard has stated on the American television channel CNBC that it intends replace those 16 digits with a series of tokens or random numbersgenerated from our fingerprint or from others biometric elementslike our face or eyes.
Importance of the new model
This new way of purchasing, which will serve all platforms, now covers 25% of current operations. He aim of Mastercard is that by 2030, cover 100%meaning that, by that year, credit cards as we know them will no longer exist.
The main motivation behind this change is the online shopping fraud, which does not stop growing, at the same time as the business itself. And it is expected that, within the next five years, the online shopping business will have a volume of 362,000 million euroswhich is, for example, double what Spain as a country spends on pensions.
Mastercard is a very innovative company, and already in 2022 they announced that by 2024 they would eliminate magnetic stripes from cards as a payment method. In our country there are already several banking entities that allow payment through fingerprint, well, this is just a small preview of the future of credit cards.
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