On February 12, Mastercard unveiled its Mastercard Digital Enablement Service (MDES) Token Connect, a platform designed to facilitate issuer-initiated tokenisation for banks in India. This service empowers banks to implement card-on-file and device tokens for both debit and credit cards seamlessly through their mobile and internet banking channels.
The MDES Token Connect platform is geared towards enhancing the online transaction experience for cardholders, providing a secure and convenient means to conduct transactions over the internet. By integrating their mobile and internet banking platforms with MDES Token Connect, issuer banks can enable cardholders to transmit payment details securely to token requestors, including digital wallets, online merchants, and e-commerce platforms. This initiative is poised to bolster the overall security and ease of online transactions for Mastercard users in India