EXCLUSIVE -Fintech startup Token has inked a major partnership with payment processor Marqeta and Mastercard that tremendously expands its reach in the online retail space, just in time for the holidays.

“By partnering with Marqeta and Mastercard, it opens us (Token) to almost every merchant that uses Mastercard. And that is a huge market because who doesn’t accept Mastercard?” Zohar Steinberg, Token founder and CEO told Bank Innovation. “The importance of this partnership is that is allowing us to enable our users to use our service to buy what they want anywhere they want,” he said.

Based in New York, Token is a mobile app that lets a user disguise his payment details online, by creating an alter ego for each online purchase or for each online merchant where he has an account.

For example. Steinberg explained, instead of providing AT&T with an actual credit card or banking information, Token will create an alias for the user by tokenizing their card or banking number and providing the user with an alter name and card number that they can use to pay their AT&T bills.

Once a transaction is made using that digital token, then that token will be linked with that specific merchant.

On the flip side, the merchant will know always know the true identity of the payer. That way, they will always know how to get in touch with the user for missing a payment or other such issues.

The app is free. Token makes its money through its partnership with the issuer.

To use Token, a user must register with the app in a two-prong verification process. The first is linking a social account (Facebook or Linkedin) and the second, is linking bank account or credit card information. The process takes less than a few minutes, Steinberg said.

The user also needs to verify their physical information such as their address, mobile number, birthday, email, etc.

The partnership with Marqeta and Mastercard comes in time for peak retail season.

“It was important that we made it happen during the holiday season,” Steinberg said, “We want people to have fun and shop and buy presents for loved ones while feeling absolutely secure.”

The merchants also benefit from Token’s services, he said.

“I don’t think merchants should deal with data and privacy,” he said. “This is a service that should be provided by third party solutions like (Token), this way retailers can focus on products and lowering their prices.”

It is important to note that Token does not store the data provided by the user, neither is the data saved online. Instead, the information is tokenized by third party external partners such as Plaid and Stripe.

Token is available to U.S. based users for now. The app is available on both Android and Apple.