MasterCard, a New York based American multinational financial services corporation is all set to introduce a new technology that allows shoppers to use selfies to authorize payments instead of a signature and password.
According to Ajaypal Singh Banga, the new selfie technology will be implemented in MasterCard’s identity Check App.
The new technology will work in the following way—
- When a customer makes an online purchase, the merchant payment machine will have to issue identity verification.
- The customer’s mobile phone will receive a push notification, which will open the app and ask to take a selfie.
- The customer while taking the selfie needs to ‘blink’ to show the facial recognition scan software that they are a real person. This is to prevent criminals from exploiting the system by simply holding up the person’s picture.
- If the customer us shopping at Manhattan Mall or Atlas Park, you need to take a selfie with the agent at the counter.
The new selfie technology will also remove the necessity of remembering a password, which can become an issue in a society dependent on multiple passwords.
MasterCard is also looking to integrate voice heartbeat recognition as payment options in the future.
Do you think that all this technologies will help in curbing fraudulent online transactions?
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