MasterCard, the global payments and technology company, is researching on a smartphone app that will allow people to authenticate a transaction and confirm their identity via biometric. This app aims to enhance online security and make transactions safer.
The app will offer consumers with both finger print and facial scan options. On buying a product, a pop-up will appear and ask for authorization to complete the payment process. The person can choose either of the two options — facial scan or finger print scan. In case of facial scan, you will have to hold the phone and stare at it and blink. It is required to confirm that the user is a human being. When you will authenticate a transaction through biometric, the app will confirm the card is owned and being used by you.
Currently, MasterCard uses password-based security system, called securecode to authenticate the transactions. This biometric recognition will be more helpful for those who find it difficult to remember the password and will make selfie lovers happy.
Initially, a pilot project will be launched to only 500 customers. Depending on the pilot’s results, the app will be released for all. MasterCard has partnered with international smartphone manufacturers such as Google, Blackberry, Apple, Microsoft and Samsung to test the project.