Beginning in April 2019, the identification of Mastercard customers will occur using biometric data - it is now necessary to confirm the purchases with fingerprints or face scanning on the device
What is the reason for this decision?
A fingerprint on the smartphone will replace the authorization with a pin code, signature or password via SMS.
Javier Perez, president of Mastercard Europe, said: "Biometric technologies are best suited to consumers' expectations for secure future payment decisions and enhanced lifestyle digitization. These technologies can provide significant benefits to consumers, retailers and banks due to high-quality customer experience and better security of transactions "
A recent study by scientists at Oxford University, conducted together with Mastercard, determined that 93% of professionals in the banking sector are going to introduce biometric solutions.
It is assumed that such an authentication method will facilitate the purchase process and the failure rate during its completion will be reduced by 70% compared to other means of verifying the identity.