In Your Face Credit: MasterCard Testing Facial Recognition Scanning

Passwords and fingerprints may soon become obsolete. Now comes “facial recognition” as the next step in the mobile payments evolution. MasterCard is testing online purchases that can be approved with a quick shot of your face.

MasterCard will roll out this new option this fall. You’ll be able to hold up your phone, see your mirror image inside a designated circle. You’ll have to download the MasterCard phone app to use the feature. “If you go with facial recognition, you stare at the phone — blink once — and you’re done,” MasterCard told CNNMoney.

The facial recognition scan will map out your face digitally and transmit it to MasterCard.

“The new generation, which is into selfies … I think they’ll find it cool. They’ll embrace it,” said Ajay Bhalla, MasterCard President of Enterprise Safety and Security.

The facial recognition pilot is a part of the company’s plan to do away with passwords for online payments. MasterCard has outlined a future where static passwords are replaced by biometric scans, voice recognition and a wristband which authenticates a cardholder through their unique cardiac rhythm.

Mobile payments on devices are projected to represent 30 percent of all online retail sales by 2018.

MasterCard’s facial recognition will roll out to only about 500 users at first. Tech giants like Apple, Samsung, Google, Microsoft and BlackBerry are reportedly on board with the MasterCard venture, along with two big banks.

J. Lipsky

Hello, I am John, born in Cedar Rapids, but lived a lot of years in Latin America. I am an economist and have specialized in credit and debt. Originally sovereign debt, but later on, in credit score management and debt consolidation. I write for many publications. Here in eCreditDaily, I write about credit, second chance banking, and debt. I also write for other websites and bulletins about inflation and country risk.

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