Mastercard to phase out manual card entry for online payments in Europe by 2030
Roberto Machado Noa/ LightRocket via Getty Images
LONDON — The experience of paying for products and services online could feel a lot different in the coming years.
Starting from 2030, Mastercard will no longer require Europeans to enter their card numbers manually when checking out online — no matter what platform or device they’re using.
Mastercard will announce Tuesday in a fireside chat with CNBC that, by 2030, all cards it issues on its network in Europe will be tokenized.
In other words, instead of the 16-digit card number we’re all accustomed to using for transactions, this will be replaced with a randomly generated “token.”
The firm says it’s been working with banks, fintechs, merchants and other partners to phase out manual card entry for e-commerce by 2030 in Europe, in favor of a one-click button across all online platforms.
This will ensure that consumers’ cards are secure against fraud attempts, Mastercard says.
Users won’t have to keep entering passwords every time they try to make a payment, as Mastercard is introducing passkeys that replace passwords.
It will also enable customers to make one-click payments at checkout using biometric authentication with a thumbprint.
Cards stored in a merchants’ page or electronic wallet via tokenization can be automatically updated wherever they’re stored when they’re replaced or renewed.
Reducing fraud
Mastercard says 100% tokenization across e-commerce sites will reduce fraud rates dramatically.
According to market research firm Juniper Research, losses from online payment fraud are expected to exceed $91 billion by 2028 — totaling more than $362 billion globally over the next five years.
Adoption of tokenization, Mastercard says, has been increasing at a rate of 50% each year and now secures about 25% of all e-commerce transactions globally across its network.
Mastercard said it’s rolling out the change in Europe as the Continent has long been a leader in payments innovations, such as contactless payments and online banking, which allowed banking users to share their accounts’ data to access new financial products.
“In Europe we have seen tokenization gaining momentum across the ecosystem, the convenience and reduced rates of fraud sell themselves,” Valerie Nowak, executive vice president, product and innovation at Mastercard Europe, said in a statement.
“We are confident that reaching this vision by 2030 is a win-win-win for shoppers, retailers and the card issuers alike.”
Future of payments
From the arrival of credit cards for the first time in the 1950s and 1960s, to the shift toward paying for things online that came with the widespread adoption of the internet in the early 2000s, the ways we pay have undergone a few pretty dramatic changes throughout the decades.
In the early days when credit cards were first introduced, bank clerks would check card numbers against a book of invalid numbers or call the issuing bank to check the person making the payment is who they say they are.
So-called zip-zap machines that would imprint card numbers on carbon paper packets were the primary way of paying via credit card at the checkout counter.
That was until the 1970s and 1980s, when magnetic stripes and electronic payment terminals took over.
They were succeeded by cards with microchips that stored data on the card’s owner, number and expiry date.
Mastercard is betting its move toward this new “embedded” payment system will be as dramatic a shift as the move toward chip and PIN, or the adoption of contactless payments, which are now widely used in developed economies across the world.
The company says its technology will make the experience of paying for items online as smooth as making a contactless payment in-store. It says it means that consumers will be able to make payments with one click across any device including smartwatches, home assistants and even cars.
For example, Mastercard has a partnership with Mercedes-Benz that allows the automaker’s customers to use a fingerprint sensor in their car to make digital payments at more than 3,600 service stations across Germany.
Elon Musk, chief executive officer of Tesla Inc., during a meeting between US President Donald Trump and Cyril Ramaphosa, South Africa’s president, not pictured, in the Oval Office of the White House in Washington, DC, US, on Wednesday, May 21, 2025.
Jim Lo Scalzo | Bloomberg | Getty Images
Tesla shares have dropped 7% from Friday’s closing price of $323.63 to the $300.71 close on Tuesday ahead of the company’s second-quarter deliveries report.
Wall Street analysts are expecting Tesla to report deliveries of around 387,000 — a 13% decline compared to deliveries of nearly 444,000 a year ago, according to a consensus compiled by FactSet. Prediction market Kalshi told CNBC on Tuesday that its traders forecast deliveries of around 364,000.
Shares in the electric vehicle maker had been rising after Tesla started a limited robotaxi service in Austin, Texas, in late June and CEO Elon Musk boasted of its first “driverless delivery” of a car to a customer there.
The stock price took a turn after Musk on Saturday reignited a feud with President Donald Trump over the One Big Beautiful Bill Act, the massive spending bill that the commander-in-chief endorsed. The bill is now heading for a final vote in the House.
That legislation would benefit higher-income households in the U.S. while slashing spending on programs such as Medicaid and food assistance.
Musk did not object to cuts to those specific programs. However, Musk on X said the bill would worsen the U.S. deficit and raise the debt ceiling. The bill includes tax cuts that would add around $3 trillion to the national debt over the next decade, according to an analysis by the Congressional Budget Office.
The Tesla CEO has also criticized aspects of the bill that would cut hundreds of billions of dollars in support for renewable energy development in the U.S. and phase out tax credits for electric vehicles.
Such changes could hurt Tesla as they are expected to lower EV sales by roughly 100,000 vehicles per year by 2035, according to think tank Energy Innovation.
The bill is also expected to reduce renewable energy development by more than 350 cumulative gigawatts in that same time period, according to Energy Innovation. That could pressure Tesla’s Energy division, which sells solar and battery energy storage systems to utilities and other clean energy project developers.
Trump told reporters at the White House on Tuesday that Musk was, “upset that he’s losing his EV mandate,” but that the tech CEO could “lose a lot more than that.” Trump was alluding to the subsidies, incentives and contracts that Musk’s many businesses have relied on.
SpaceX has received over $22 billion from work with the federal government since 2008, according to FedScout, which does federal spending and government contract research. That includes contracts from NASA, the U.S. Air Force and Space Force, among others.
Tesla has reported $11.8 billion in sales of “automotive regulatory credits,” or environmental credits, since 2015, according to an evaluation of the EV maker’s financial filings by Geoff Orazem, CEO of FedScout.
These incentives are largely derived from federal and state regulations in the U.S. that require automakers to sell some number of low-emission vehicles or buy credits from companies like Tesla, which often have an excess.
Regulatory credit sales go straight to Tesla’s bottom line. Credit revenue amounted to approximately 60% of Tesla’s net income in the second quarter of 2024.
WATCH: Threats to SpaceX & Tesla as Musk, Trump feud heats up
Amazon founder Jeff Bezos leaves Aman Venice hotel, on the second day of the wedding festivities of Bezos and journalist Lauren Sanchez, in Venice, Italy, June 27, 2025.
Yara Nardi | Reuters
Amazon founder Jeff Bezos unloaded more than 3.3 million shares of his company in a sale valued at roughly $736.7 million, according to a financial filing on Tuesday.
The stock sale is part of a previously arranged trading plan adopted by Bezos in March. Under that arrangement, Bezos plans to sell up to 25 million shares of Amazon over a period ending May 29, 2026.
Bezos, who stepped down as Amazon’s CEO in 2021 but remains chairman, has been selling stock in the company at a regular clip in recent years, though he’s still the largest individual shareholder. He adopted a similar trading plan in February 2024 to sell up to 50 million shares of Amazon stock through late January of this year.
Bezos previously said he’d sell about $1 billion in Amazon stock each year to fund his space exploration company, Blue Origin. He’s also donated shares to Day 1 Academies, his nonprofit that’s building a chain of Montessori-inspired preschools across several states.
The most recent stock sale comes after Bezos and Lauren Sanchez tied the knot last week in a lavish wedding in Venice. The star-studded celebration, which took place over three days and sparked protests from some local residents, was estimated to cost around $50 million.
Bezos is ranked third in Bloomberg’s Billionaires Index with a net worth of about $240 billion. He’s behind Tesla CEO Elon Musk at $363 billion and Meta CEO Mark Zuckerberg at $260 billion.
WATCH: Amazon CEO Jeff Bezos’ wedding sparks Venice protests
Google CEO Sundar Pichai addresses the crowd during Google’s annual I/O developers conference in Mountain View, California on May 20, 2025.
Camille Cohen | AFP | Getty Images
The Google Doodle is Alphabet’s most valuable piece of real estate, and on Tuesday, the company used that space to promote “AI Mode,” its latest AI search product.
Google’s Chrome browser landing pages and Google’s home page featured an animated image that, when clicked, leads users to AI Mode, the company’s latest search product. The doodle image also includes a share button.
The promotion of AI Mode on the Google Doodle comes as the tech company makes efforts to expose more users to its latest AI features amid pressure from artificial intelligence startups. That includes OpenAI which makes ChatGPT, Anthropic which makes Claude and Perplexity AI, which bills itself as an “AI-powered answer engine.”
Google’s “Doodle” Tuesday directed users to its search chatbot-like experience “AI Mode”
AI Mode is Google’s chatbot-like experience for complex user questions. The company began displaying AI Mode alongside its search results page in March.
“Search whatever’s on your mind and get AI-powered responses,” the product description reads when clicked from the home page.
AI Mode is powered by Google’s flagship AI model Gemini, and the tool has rolled out to more U.S. users since its launch. Users can ask AI Mode questions using text, voice or images. Google says AI Mode makes it easier to find answers to complex questions that might have previously required multiple searches.
In May, Google tested the AI Mode feature directly beneath the Google search bar, replacing the “I’m Feeling Lucky” widget — a place where Google rarely makes changes.
WATCH: Google buyouts highlight tech’s cost-cutting amid AI CapEx boom
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