FINANCIAL OUTFIT MasterCard is presumably happy with the way its trials of selfie-based security log-ins have gone, and is ready to throw them at the real world.
We are about as sick of selfies as it is possible to get. But, hey, they keep a whole app industry ticking over so who are we to ignore them? They are also in some kind of dictionary.
MasterCard played the selfie card last summer in a trial with employees at a company called First Tech Federal Credit Union. People were apparently beside themselves with the new technology.
"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, 75 percent of consumers stated that they have heard of biometric payments," said Catherine Murchie, senior VP of US processing, network and enterprise security solutions at MasterCard, at the time.
"We're excited to be on the cutting edge of exploring biometrics and engaged in the first US pilot with First Tech Federal Credit Union."
MasterCard seems to believe that people are peeing themselves over the possibilities as we roll into 2016. Reports have it that the selfie security solution will launch in the US first, following some success in the Netherlands, before eventually presenting itself as a globally acceptable way of paying for things.
We asked for the official guff from MasterCard and it came from the Netherlands, where a study carried out with the assistance of ICS found that 75 percent of people see biometrics as an ace way to reduce fraud.
That's biometrics, of course, so it includes fingerprints. A trial has already happened among the Dutch using a mix of options, and that has gone well.
"Biometrics, unlike passwords, ensures convenience," said André IJbema, manager for risk management at ICS, as he looked to the future and considered the study.
"People forget passwords, making the payment process unnecessary long and complex, so we expect that passwords will slowly become obsolete in favour of a more user-friendly alternative, such as biometrical identification." µ
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