Typically, existing identity verification methods take shoppers away from a merchant’s website or mobile app where they are often required to remember and enter a password. The process can be time consuming, resulting in a shopper abandoning their purchase or having the transaction declined if they enter their password incorrectly.
Mastercard (No. 7 on the Fair360, formerly DiversityInc Top 50 Companies list) Identity Check Mobile eliminates the need for cardholders to remember passwords, dramatically speeding up the digital checkout experience while also improving security. The cardholder can verify their identity using the fingerprint scanner or via facial recognition technology by taking a “selfie” photo on their smartphone.
“We are focusing our efforts on simplifying the online payment experience, without compromising security,” saidAjay Bhalla, president of Enterprise Risk & Security, Mastercard. “We find ourselves before a milestone in payments’ evolution. Following the revolution in physical purchases with innovations like Chip technology, contactless payments, and wearables, we are now making Identity Check a reality for online purchases in Latin America after earlier rollouts this year in the U.S. and Europe.”
This launch takes place after successful trials in the Netherlands, the U.S. and Canada concluded that consumersprefer biometrics payments instead of the current password-based systems.
