MasterCard is preparing to launch new mobile payment services. They are called pay-by-Selfie και pay-by-fingerprint, και θα εμφανιστούν φέτος στον Καναδά, τις ΗΠΑ και το 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 UK, 18 percent of online shoppers abandoned their shopping carts full because of "excessive security checks at payments” in 2012. And in the US, companies lost $118 billion in 2015 sales due to “false positives,” transactions that were wrongly blocked by financial institutions because they couldn't spot the mistakes.
Selfie and fingerprint payments bring a simpler alternative to these security checks at the cashier.
The new feature is called biometric control identity, through a photograph or from a customer's fingerprints and could replace the burdensome checks used today.
MasterCard's new platform, which will come with the application the Indentity Check (app), will allow its owners to pay with a selfie, and as an alternative with 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.