A new advance in biometric payment reported this May 17 master cardsince a movement of the hands or a simple smile will be enough to pay in the trade.
The Program describes a set of standards that banks, merchants, and technology providers adhere to, helping to ensure the security and privacy of personal data when people pay biometrically.
“The way we pay must keep pace with the way we live, work and do business, offering choices to consumers with the highest levels of security,” said Ajay Bhalla, president of Cyber & Intelligence at Mastercard. “Our goal with this new program is to make shopping a great experience for consumers and merchants alike by providing the best in security and convenience.”
Participants in the Mastercard Biometric Payment Program offer consumers the option to conveniently enroll in their biometric payment services, in-store or at home, through a merchant or identity provider application. Consumers can simply check the bill and smile at a camera or wave over a reader to pay. The new technology ensures a fast and secure payment experience, while allowing consumers to choose how they want to pay.
Mastercard has long pioneered biometrics, in-store and online, as a secure way to verify identity, replacing the password with the person. The effort, which is based on the EMV 3-D Secure standard, enables people to shop and pay through biometric-enabled payment cards, devices and wearables. Biometrics have also featured in confirming online shoppers’ identities through “selfie checkout” and online, leveraging key standards such as FIDO (Fast Identity Online).