MasterCard is planning to soon Introduce a face Recognition system that pays bills after user clicks a selfie and blinks in 14 other country apart from the US where it is currently on trial.
When you making purchase online merchant that requires identity verification cardholders can authorize the transaction by holding up their phones when take selfie and blink – which ensure cardholder purchasing not just a photograph – instead inputting a password or PIN.
Go with that authentication process transaction made much secure actually MasterCard wants to cut down false declines, which occur when a legitimate transaction is rejected because of suspected fraud.These declines cost the company nearly $118 billion per year – 13 times more than the cost of actual fraud, the report said.
A few days before HDFC also said it was upping its security measures by implementing biometric banking options like voice recognition and touch identification to replace traditional passwords.
Barclays also introduced voice recognition to its private banking division in 2013, and Apple Pay is already allowing customers to process a purchase on a stored credit card with a fingerprint.
Master card also reported to develop a verification of the customer identification to read there heart beats.
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