In Europe, Bank Cards Will Be Abolished in 4 Years: What Will Replace Them

In European countries, there is a gradual move away from cash, and now a similar fate awaits physical bank cards. Mastercard has announced its intention to completely abandon debit and credit cards by 2030, replacing them with digital payment solutions. This was reported by inPoland.

This is about a large-scale transformation of daily payments aimed at making transactions faster and safer. At the core of the new model is tokenization technology. Each payment receives a unique one-time code that is valid only for a specific transaction. This allows not to share card data during purchases and significantly reduces the risks of information leakage and fraud.

Bank Cards in Europe: What Will Replace Them

Along with tokenization, Mastercard is actively investing in biometric identification. Instead of a physical card and entering a PIN code, payment confirmations will occur through fingerprint scanning, palm scanning, or facial recognition. This approach, as envisioned by the company, aims to combine convenience and a high level of security.

Cashless Payments Without Plastic: Mastercard's Plans

New technologies are already being tested in collaboration with banks, businesses, and retail chains to create the necessary infrastructure. Mastercard aims to make biometric authentication and one-time tokens standard in Europe by 2030. If the plan is successfully implemented, plastic cards may completely disappear from daily use.

It is worth noting that fraudsters posing as representatives of the state program "eAid" have been discovered in the Telegram network, attempting to appear official. .