MasterCard is working on a new technology that would allow online transactions to be authenticated using selfies! The announcement will surely come as a big relief to all those compulsive online shoppers who would be able to carry out their purchases in a much faster and safe way.
Customers are usually required to fill in all their card details, following which a one time password needs to be entered to complete the transaction. The OTP is what secures the transaction as it is directly sent to the user’s mobile phone. A selfie-authenticated transaction will help make things even more secure as there is fool-proof confirmation of the identity of the card holder.
How it Works?
Users have to first download the MasterCard Identity Checking App on to their smartphones. Using the front-facing camera, users are then required to click their picture. MasterCard claims that it makes use of advanced algorithms which can easily discern between a picture and a video. Moreover, the detection mechanism will also incorporate a “Liveness” test that would require you to blink ( Sorry….For all those who think they can get away with just propping up their friend’s photograph and use his/her MasterCard)
MasterCard Officials have confirmed that this technology will also help MasterCard to identify the user’s location and the place where the goods are being shipped to. To begin with, MasterCard will start this service in over a dozen countries. Most MasterCard customers have admitted that they would be more comfortable with a biometric authentication mechanism like selfie pay rather than enter a pin or password every time.
MasterCard is reportedly also working on other forms of biometric authentication like electrocardiogram(heartbeat) authentication. Initial trials conducted in Canada and Netherlands made use of Nymi Band heart beat tracker. The biggest advantage of heartbeat authentication is that it is hassle-free as heartbeat monitoring happens in the background without the user having to even lift his finger! Selfie authentication will hit Asian and European markets in the coming months.