MasterCard’s Vision for Biometrics Gets Closer to Reality (Payments Source)

Payments Source recently published an article that focused on MasterCard’s solution for biometric authentication, which includes Daon’s IdentityX® Platform as one of the authentication technologies behind MasterCard Identity Check™. John Adams, the writer, says that “Biometric authentication has been “replacing” passwords for a long time, but for the most part accounts still rely on remembered credentials than physical identifiers. This may change soon, as the enabling hardware and the business case for biometrics are closer to reality than ever before.”

Daon is supplying part of the technology to support MasterCard’s Identity Check, which uses mobile devices to secure e-payments and mobile banking through fingerprints and facial recognition, or “selfie pay.” Identity Check uses a mix of embedded smartphone technology such as device cryptography, geolocation and biometrics to prove the user’s identity for contactless payments.

“The first password was used in 1960. There is very little technology in existence that gets used 56 years later,” said Conor White, president of the Americas for Daon. “Almost everyone has a smartphone and can do a voice, fingerprint or camera.”

To read the full article, visit the Payment Source website by clicking here.