Mastercard to Eliminate 16-Digit Card Numbers by 2030 for Enhanced Security

In a strategic move to combat identity theft and fraud, Mastercard has announced plans to remove the traditional 16-digit card number from credit and debit cards by 2030. Instead, the company will implement tokenization and biometric authentication to enhance security.

Mastercard has been integrating biometric authentication into its payment ecosystem since 2022, allowing transactions to be completed with a smile or a hand wave. Now, the next phase involves replacing card numbers with tokens, which transform the 16-digit identifier into a unique digital code stored on devices. This ensures that card details are never exposed during online or contactless transactions.

The initial rollout of these numberless cards will be in collaboration with AMP Bank, with additional financial institutions expected to adopt the technology in the coming year.

Receiving a suspicious transaction alert from the bank can be alarming, and for good reason—payment fraud has been on the rise. In Australia, fraudulent card transactions amounted to A$868 million in 2023-24, up from A$677.5 million the previous year.

Data breaches continue to expose sensitive financial information, with major incidents involving Marriott, Starwood Hotels, and Ticketmaster affecting hundreds of millions of customers worldwide. In Australia, card-not-present fraud—where transactions occur w

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