- Mastercard biometric checkout will let you pay simply by smiling.
- The first pilot is set to be launched this week in Brazil with local start-up Payface and supermarket chain St Marche.
- Mastercard’s program follows similar moves by rivals like Visa and Amazon who are developing their own biometric systems.
Mastercard customers will soon be able to make payments with just their fingerprints or their face. A new biometric payment system, which is being piloted in Brazil this week, will allow customers to pay by waving their hand over a reader or smiling into a camera at checkout, without the need for a card or a mobile telephone, the company said. It comes as the market for contactless biometric technology is set to reach $18.6 billion by 2026, according to data from KBV Research. Mastercard’s program follows similar moves by rivals like Visa and Amazon who are developing their own biometric systems.
For merchants, the benefits are also considerable, from faster transaction times and shorter lines to greater hygiene and heightened security. The payments system can be integrated with loyalty programs and personalized recommendations to help consumers find products they might be interested in based on previous purchases.
Mastercard: Changing the way people check out
Mastercard is working with partners including NEC, Payface, Aurus, PaybyFace, PopID, and Fujitsu Limited to ensure the launch and scale of these types of new checkout capabilities around the globe. You can of course use Face ID on your iPhone to authorize an Apple Pay transaction, but what’s new here is that you can don’t need any device or card on you – your face alone authorizes the payment.
The first pilot is set to be launched this week in Brazil with local start-up Payface and supermarket chain St Marche. The pilot will see Payface’s technology implemented across five St Marche supermarkets in São Paulo. Mastercard says future pilots are being planned for roll-out in the Middle East and Asia, and that it’s working with partners such as NEC, Aurus, PaybyFace, PopID, and Fujitsu.
Mastercard is assisting to ensure that the greatest levels of security and privacy are maintained for everyone using this technology in order to protect consumers. The Biometric Checkout Program is based on Mastercard’s data responsibility principles, which say that consumers have the right to decide how their personal information is shared and how it is used.
For now, the company is testing the product in just five supermarkets in Sao Paulo, Brazil. However, Mastercard plans to roll out the service globally soon. The company has been constantly trying to improve the security of payments. It has been working alongside Samsung to create credit cards that can recognize the user’s fingerprint.
Thanks for Reading!!