MasterCard to Trial Using Selfies as Authentication

by Alex Johnson 0

With card not present fraud predicted to increase dramatically in the wake of the U.S. EMV rollout, financial services companies are ramping up their investments in cybersecurity and fraud prevention technologies. The latest news is from Mastercard, which is launching a pilot program for two biometric authentication processes:

“authorization will be done via one of two methods. The first is fingerprint recognition, requiring users to verify their identity by touching their device; the second method, facial recognition, will see users stare at their camera while their face is mapped. Reportedly, blinking while taking your payment selfie will prevent a thief from simply holding a photograph up to pretend they are you.”

“In order to use the upcoming function, customers will be required to download the MasterCard app on their phone, and, once an online purchase is at the checkout stage, the app will push through a request asking for authorization before payment is submitted.”

While downloading an entirely separate app to verify your identity when making purchase might seem a little onerous, Mastercard clearly thinks that biometrics will be hit with younger consumers::

“The new generation, which is into selfies … I think they’ll find it cool. They’ll embrace it,” MasterCard president of enterprise safety and security Ajay Bhalla said.”

Overview by Alex Johnson, Sr. Analyst, Credit Advisory Service at Mercator Advisory Group

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