First Tech Federal Credit Union and MasterCard Announce First U.S. Biometric Payments Pilot
August 18 2015 - 09:00AM
Business Wire
Verifying Payments with Facial Recognition
and Fingerprint Scans Will Enhance Credit Union Member Experience
and Security
First Tech Federal Credit Union today announced a pilot program
with MasterCard that will enable First Tech employees to
authenticate and verify transactions using facial recognition and
fingerprint biometrics.
Dubbed “Selfie Pay,” by industry observers, this initial test
will be conducted in a closed environment where First Tech
employees will use artificial funds and biometrics. The pilot will
test the potential of delivering greater security and convenience
to First Tech’s U.S. cardholders by verifying identity via facial
photographs or fingerprint scans conducted on smartphones. This
technology will enhance the ease and convenience that Americans
have come to expect when using credit and debit cards for online
purchases while leveraging advanced technologies to help ensure
payment security.
“At First Tech, we’re establishing a strong track record for
bringing the most secure and forward-looking payments security to
our members, first with our introduction this year of chip-and-PIN
debit and credit cards. In that spirit, this biometrics pilot
program represents an exciting next step in payment convenience and
security,” said Greg Mitchell, CEO of First Tech Federal Credit
Union. “Our members are some of the most technologically focused
consumers on the planet, and being an innovator in the payments
security space is evidence of our strong desire to meet our
members’ unique needs.”
The pilot program will run in September and October and include
over 200 credit union employees. Pilot participants will use
smartphone apps to make virtual donations to the Children’s Miracle
Network (CMN) Hospitals, all authenticated by facial recognition or
fingerprint biometrics. MasterCard and First Tech are proud to
support CMN Hospitals, a nonprofit organization raising funds and
awareness for 170 children’s hospitals across North America.
“A recent MasterCard survey found that 83 percent of consumers
are excited about new secure technologies helping to protect their
financial information. In the same survey, three-fourths (75
percent) of consumers stated that they have heard of biometric
payments,” said Catherine Murchie, Senior Vice President of U.S.
Processing, Network & Enterprise Security Solutions for
MasterCard. “We’re excited to be on the cutting edge of exploring
biometrics and engaged in the first U.S. pilot with First Tech
Federal Credit Union.”
First Tech and MasterCard introduced the concept for this
biometrics pilot program at the White House Cyber Security Summit
held at Stanford University in California on February 9.
The pilot program builds on existing activities by MasterCard
and CardinalCommerce to power First Tech Federal Credit Union’s
cardholder verification processes.
About First Tech Federal Credit Union
First Tech Federal Credit Union is a $8.1 billion institution
headquartered in Mountain View, Calif. It is the nation’s premier
credit union serving the world’s leading technology-oriented
companies and their employees, including HP, Microsoft, Agilent,
Intel, CISCO, Amazon, Nike, CH2M Hill, Intuit, Google and more.
First Tech is recognized as the industry catalyst for delivering
effortless banking experiences to its 400,000 members through its
39 branch locations, more than 5,000 CO-OP Branch locations, 30,000
COOP Network ATMs and 286,000 ATMs nationwide. First Tech offers a
full range of banking services, including traditional banking,
mortgage, financial planning and insurance services. For more
information, visit firsttechfed.com.
About MasterCard
MasterCard (NYSE: MA), www.mastercard.com, is a
technology company in the global payments industry. We
operate the world’s fastest payments processing network,
connecting consumers, financial institutions, merchants,
governments and businesses in more than 210 countries and
territories. MasterCard’s products and solutions make everyday
commerce activities – such as shopping, traveling, running a
business and managing finances – easier, more secure and more
efficient for everyone. Follow us on
Twitter @MasterCardNews, join the discussion on
the Cashless Pioneers Blog and subscribe for
the latest news on the Engagement Bureau.
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version on businesswire.com: http://www.businesswire.com/news/home/20150818005818/en/
First TechMedia:Keith Metz-Porozni,
971-506-7769keithm@r-west.comorMasterCardMedia:Beth Kitchener,
914-249-2058beth_kitchener@mastercard.com
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