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Paying by taking a Selfie
Posted on October 13th, 2016 in Technology

Have you ever struggled trying to remember the passwords for your accounts? Nowadays we have accounts and passwords for everything, and most of our passwords are different in order to prevent frauds or hackers from accessing our accounts. We have good news for you; the written passwords are about to change. The biometric technology is taking the online market. Before you know it, you are going to be able to use fingerprints or a selfie to verify your online transactions.

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What is biometric technology?

The biometric technology is based in ways in which individuals can be uniquely identified through biological traits, such as hand geometry, facial recognition, retina patterns, iris recognition, fingerscanning, finger vein ID, voice waves and DNA. So Biometric authentication is where we use a “proof of identity” as part of a validating process to access to a system; like the one used in IPhones where your finger is your password, or the retina scans similar to what you’ve seen in any spy movies.

 

 

What MasterCard is doing,

MasterCard is thinking of their client’s security in order to prevent online fraud. The company has developed an app which uses facial or finger print identity check to allow consumers to verify online transactions.maxresdefault

The way the Identity Check works is by authenticating a selfie or fingerprint sent via MasterCard’s mobile app, which will prompt a message before completing the transaction, from your laptop, desktop or mobile. Basically you will complete your transaction by showing your face in your mobile.

The security secret is that the app will monitor the consumer facial mapping and live blinking through the app, this prevents anybody to access your accounts by using a photo or video of you, because the app would be adapted with field measurements as part of the features you provide when signing on.

In other words a set of measurements taken from your finger or face are going to become your online signature.

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MasterCard is thinking of rolling out this feature in the UK, Canada and the US first. They started a pilot trial this summer in Canada with BMO corporate cardholders. The Canadian trial is the third MasterCard has conducted; the others were held in fall 2015. The First Tech Federal Credit Union in California was one of the MasterCard global partners that helped them test the Identity Check.

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“With BMO, MasterCard is hosting our first Canadian and U.S. corporate card biometric user engagement. It’s always exciting to introduce biometrics to new cardholders. They quickly realize that they don’t have to sacrifice convenience for security. By snapping a selfie or scanning a fingerprint, the person becomes the password,” said Catherine Murchie, Senior Vice President of North America Processing, Enterprise Security & Network Solutions for MasterCard.

They have also tested the consumer reactions to perceive the acceptance and their preference over the use of passwords. The results of the trial revealed that 92% of its test subjects preferred the new system to passwords. 9 out of 10 participants said they would like to change their password to biometric identification.

Once all the trials are completed, and the app perfected, the next phase will be to make the technology available to all MasterCard customers. This app wont be on the app store, consumers would have access to it through their bank or credit union.

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Lets hope we can start using our biometric signature as soon as possible to reinforce the security of our accounts and not to struggle anymore trying to remember our multiple passwords.
Selfie pay over Passwords

 

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