MasterCard is preparing to release new mobile payment services. They are called pay-by-selfie and pay-by-fingerprint, and will be shown this year in Canada, the US and the United Kingdom.
The company hopes to simplify the online shopping experience for MasterCard owners at a time when retailers are starting to make it much more complicated with additional security measures at the cashier.
Retailers in the United States and the United Kingdom apply security controls, such as 3D Secure and Verified by Visa, during the on-line ordering process. But in this way they make purchasing experience difficult, which can translate into loss of sales.
In the United Kingdom, 18 percent of online shoppers left their carts full due to "excessive security checks on payments" in 2012. And in the US, companies lost $ 118 billion in 2015 sales due to "false positives". transactions that were erroneously excluded by financial institutions because they could not detect errors.
Selfie and fingerprint payments bring a simpler alternative to these security checks at the cashier.
The new feature is called Biometric Authentication through a photo or fingerprints of a customer and could replace the burdensome controls currently in use.
The new MasterCard platform, which will come with the Indentity Check (app) application, will give its owners the option to pay with selfie, and as an alternative to their fingerprint.
MasterCard owners through financial institutions will be able to install the app on their mobile devices, but they will only work for their online purchases rather than in stores.
George is still wondering what he is doing here….
