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

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

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

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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