Business

Mastercard Masking Technology launched for the first time in Turkey

Mastercard’s global Masking Technology (Tokenization), which protects both the consumer and the business in increasing e-commerce shopping, is now in Turkey. This technology, which is a first in its field, prevents the member merchant from hiding the real card information by ensuring that the card mask (token) created instead of the card number is stored in the digital subscription and payment transactions that Turkish cardholders perform by registering their cards on international websites or mobile applications. Thus, the real card information can only be accessed by the relevant bank. It offers the information and management of the store where the stored cards are registered, to the control of the cardholders through the bank applications.

Digitization accelerated by the pandemic increases the volume and frequency of purchases made from all devices connected to the internet day by day. In e-commerce shopping, which stands out with the advantages of speed, security and convenience, consumers define their credit cards on online platforms and benefit from payment by registered card or automatic payment. With digital transformation, consumers use their credit cards while subscribing to many international digital entertainment and e-commerce platforms and allow these sites to store cards in their memberships. With this technology it has developed, Mastercard provides its consumers with more security in the global payment network and, accordingly, a smoother e-commerce experience. With the Mastercard Masking Technology, which was put into use for the first time in Turkey, card information with the Mastercard logo registered on foreign platforms will now be stored more securely.

A FIRST IN TURKEY: “MASKING (TOKENIZATION)”

Masking, or tokenization, is the expression of sensitive data with a random and unique value called a token. Mastercard Masking Technology, a first in Turkey, creates tokens instead of real card information, and ensures the protection of registered card data at workplaces.

This technology, which is very important in terms of user security, also relieves businesses in many ways. Using Mastercard’s secure payment network and Masking Technology, overseas-based businesses both control their cybersecurity investments and ensure the security of user data.

CONTROL OF ONLINE PLATFORM MEMBERSHIPS IS NOW EASY!

Thanks to Mastercard’s Masking Technology, the mask of the card, which can only be interpreted by the relevant bank, is made visible at the member workplace, and the original card number is made visible at the bank. Cardholders can effortlessly access the information in which foreign member workplaces the cards with the Mastercard logo they use in their memberships are registered through the mobile applications of the banks. They can replace their masked card with another card of their choice, temporarily disable it, or delete this card from their membership. Masking Technology provides users with both payment and personal data security and spending control.

FOR THE FIRST TIME IN TURKEY, GUARANTEE IS IN ACTION WITH BBVA

For the first time in Turkey, with the cooperation of Mastercard and Garanti BBVA, consumers accessing the service through BonusFlas can control the use of their Mastercard logo cards on international platforms. Cardholders using BonusFlas can see which foreign platform or workplace where their Mastercard credit cards are registered for payment in the “My Memberships” section. They can open and close or change any card they wish for payment through the application.

Mastercard General Manager Yigit Caglayan emphasized that user card information is protected against cyber-attacks by hiding it in a masked manner at the relevant member workplaces abroad, “During the pandemic period where face-to-face shopping has decreased, the rate of preference for e-commerce has increased globally. We believe that cardholders should be able to control their overseas subscription and shopping transactions, where they are members and register their cards.

Mastercard Masking Technology is already actively used in more than 45 countries in Mastercard’s global payment network. More than 100 million cards have been ‘tokenized’ around the world. This technology, which will be indispensable with the security and ease of use it provides, is currently used by more than 250 large workplaces based abroad. We have now implemented the tokenization solution we offer for easy card tracking in Turkey. We are making this technology available to Garanti BBVA customers for the first time in Turkey with BonusFlas, in which we leave everything under the control of the user, whether to view or delete where the card is registered. This service will be an important step in the ‘individual control in card usage’ trend.”

Murat Cagri Suzer, General Manager of Garanti BBVA Payment Systems, said, “In today’s world, where many global digital entertainment, TV, and music platforms have entered our lives and shopping preferences are diversified with international-scale e-commerce sites, payment security and spending control come to the fore while there is membership on more than one platform for consumers. As Garanti BBVA, we attach great importance to the fact that credit card holders are always transparent about their shopping and card information, and that they can easily control their spending.

In this context, we offer our users the opportunity to control their payments on foreign digital platforms by adding Mastercard Masking Technology, which was introduced for the first time in Turkey, to our functions that serve this purpose at BonusFlas. Such innovative solutions for credit card security developed by Mastercard, one of the world’s leading institutions in payment systems technologies, create an important value in providing a perfect shopping experience to our customers. From now on, our customers will be able to see on a single screen on which platforms their credit cards are registered, how much they have paid in case of membership, they will be able to stop and restart their payments as they wish, or cancel their card registrations.”

FAST DIGITALIZATION WILL STRENGTHEN LOYALTY

In card lost or stolen transactions, banks that close the old card and produce a new card monitor this change in their own infrastructure. The card information, which is renewed and constantly updated with the technology offered by Mastercard, is instantly masked, and the payment information at member businesses is updated by the bank without tiring the user. Offering security and control services together, Mastercard Masking Technology will continue to expand its sphere of influence and take banks one step further in digital transformation with new collaborations.

Source: NTV / Translated by Irem Yildiz

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