Global: Mastercard Introduces CVC-Less Payments for Tokenised Cards in India

Mastercard has launched Cardholder Verification Code (CVC)-less online payments for debit and credit cardholders in India who have tokenised their cards on merchant platforms.

As per the Reserve Bank of India’s guidelines, merchants adopting tokenised payments will only collect CVC once. After that, customers will be able to select their tokenised card from the checkout page, confirm the one-time password, and complete the transaction without entering the CVC.

E-commerce companies like Cashfree Payments and Zomato have already embraced CVC-less payments, leading to higher authorization rates, reduced checkout abandonment, and an improved customer payment experience, according to Mastercard.

Anubhav Gupta, Senior Vice President of South Asia at Mastercard, emphasized that in addition to enhanced data security, CVC-less payments on tokenised cards offer smoother and safer experiences for online domestic card payments.