MasterCard testing face recognition ‘selfie’ app

MastercardMasterCard is reportedly experimenting with a smartphone app that allows people to confirm their identity and authenticate online transactions via a facial scan.

The new generation has popularised selfie. The app will be embraced too,” said Ajay Bhalla, security expert at the American financial services company MasterCard. 

Users currently authorise online transactions with the “SecureCode”, that requires a password. MasterCard is launching a small pilot programme involving 500 people that uses fingerprints — but also facial scans to verify online transactions, CNN Money reported.

According to report, MasterCard has partnered with every smartphone maker to make this method of verification possible.

Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/

Get a chance to meet the Who's who of the NBFCs and Insurance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.