Biometrics are useful and productive. We’ve always imagined a future where you’d only need your face to be scanned to do some important transactions like paying the bills. We don’t know if this technology can be perfected in time but MasterCard is starting an experiment that aims to approve online purchases and payments with a facial scan at checkout. Think taking a selfie to pay for something. This is every selfie-addict’s dream come to true because really, it’s much easier to do compared to remembering a password, right?
MasterCard wants to eliminate fraud especially in online transactions so it’s developing a more efficient way to make sure mobile payment is secure. This is for the new generation who likes to shop in the Internet yet are very forgetful. This new technology integrates biometrics to finish a transaction. You can choose to set a fingerprint or your face to be recognized for security purposes.
Fingerprint scanning for mobile payments is still a new technology but biometrics has been around for some time now. This MasterCard project aims to test the system on 500 customers. The company is hopeful this will be successful and more people will embrace the new technology before going public. MasterCard partnered with several tech giants like Google, Microsoft, Apple, Samsung, and BlackBerry to work on this one and integrate the system in their products but they have yet to find major bank partners yet although they are already in talks with two.
Like most companies, MasterCard is challenged to develop innovative solutions to different security challenges. Scanning one’s face to pay the bill can be a safe alternative to SecureCode, MasterCard’s own process to check privacy and security. It was actually used in three billion online transactions in 2014 alone according to the company. That’s a huge number there but MasterCard is very positive about the outcome of this new project. We’ll see.
SOURCE: CNN
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