Mastercard has announced a plan to phase out credit card number by 2030 to stamp out any types of fraud

Credit cards

Mastercard has announced plans to remove the 16-digit number from their credit and debit cards by 2030 in a move designed to stamp out identity theft and fraudulent use of cards. Source: Pixabay

Usap Tayo
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By Gary Mortimer, Cassandra Cross
Presented by Martin Tuano, Edinel Magtibay
Source: SBS

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With the numerous identity theft and fraudulent use of cards, Mastercard has announced a plan to phase out credit card number by 2030.

Key Points
  • The numbers currently used to identify cards will be replaced with tokenisation and biometric authentication.
  • The first rollout of these numberless cards will be through a partnership with AMP Bank.
  • Removing the credit card number is the latest attempt to curb fraud.
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Mastercard has announced a plan to phase out credit card number by 2030 to stamp out any types of fraud

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