Yuno Launches Mastercard Payment Passkey Service in Latin America

The service implements biometric authentication and tokenization technology to replace traditional one-time passwords (OTPs), which are vulnerable to phishing and SIM-swapping attacks. It’s the latest development in a growing trend toward post-password security in the financial sector, with Mastercard adopting a strategy to eliminate passwords and manual card entry by 2030.

The system uses smartphone-based biometric authentication through fingerprints or facial recognition, combined with secure tokenization to protect card data and Click to Pay integration for efficient checkout. Merchants can access over 1,000 payment methods through Yuno’s platform, which includes smart routing and fraud analytics capabilities.

Following the partnership’s announcement in December, Brazilian events platform Sympla became an early adopter. The implementation responds to strong regional demand, as 85 percent of Latin American consumers prefer biometric authentication over traditional passwords.

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

Yuno, backed by investors including Andreessen Horowitz and Tiger Global, plans to expand its payment orchestration services to Europe, Asia, and the United States, following Mastercard’s successful passkey deployments in India, Singapore, and the UAE throughout 2024.

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February 7, 2025 – by the ID Tech Editorial Team