New biometric app for commercial use available
in the U.S. and Canada
LAS VEGAS, Oct. 24, 2016 /CNW/ - Mastercard today announced
the North American rollout Identity Check Mobile™, a new payment
technology application that uses biometrics, including fingerprint
and facial recognition, to verify a cardholder's identity and
simplify online shopping. BMO Financial Group (BMO) will
be the first bank in the U.S. and Canada to offer Identity Check Mobile to its
corporate customers starting in the first half of 2017.
The rollout of Identity Check Mobile follows a successful soft
launch that Mastercard and BMO tested earlier this year. The
post-soft launch survey of BMO biometric program participants
found:
- Three of every four (74 percent) of participants strongly agree
that biometrics are easier to use than passwords.
- Nine out of ten participants anticipate using biometrics for
online payment security in the future.
"The pilot tested the potential of delivering greater security
and convenience using biometric technology. Our goals were to
understand the attitudes and perceptions of our participants toward
biometrics as an online payment security solution," said
Steve Pedersen, vice president,
head, North American Corporate Card Products at BMO. "After using
Identity Check Mobile, our program participants gave strong reviews
on biometric security and ease of use, especially as compared with
passwords. We are looking forward to bringing this same experience
to our clients in 2017."
Existing BMO commercial customers who opt-in to using Identity
Check Mobile will use an app provided by BMO and Mastercard to
verify their online purchases. While shopping the cardholder will
be notified instantly by the app when he or she needs to verify an
online purchase by swiping a fingerprint or snapping a selfie
photo.
Often, existing identity verification methods take shoppers away
from a retailer's website or mobile app where a password is
required. The process can be time consuming and can result in a
shopper abandoning his/her purchase or having the transaction
declined if the password is incorrect.
Mastercard Identity Check Mobile minimizes the need for
passwords, dramatically speeding the digital checkout process while
also improving security. A cardholder can verify his/her identity
by using the fingerprint scanner or facial recognition technology
(aka taking a selfie photo) on his/her smart phone with the
Identity Check app.
"Making the online payment experience near frictionless and more
secure is a priority for Mastercard," said Ajay Bhalla, president of Enterprise Risk &
Security, Mastercard. "Moving this technology beyond the pilot
phase is a significant milestone in the evolution of payments.
Online payments are being revolutionized; and now we are making
Identity Check Mobile a reality for commercial use in the U.S.,
Canada, Europe, and soon, the world."
The U.S. and Canada
availability of Identity Check Mobile follows the recent European
rollout across 12 markets, including: Austria, Belgium, Czech
Republic, Denmark,
Finland, Germany, Hungary, the
Netherlands, Norway,
Spain, Sweden and the U.K. The technology will
continue to be made available worldwide in phased rollouts
throughout 2017.
In the U.S. and as part of the White House "Lock Down Your
Login" public awareness campaign, Mastercard committed to
developing solutions that eliminate static passwords, utilizing
biometrics to make payments safe and simple.
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 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,
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SOURCE MasterCard Canada