Pay With Face: Mastercard Rolls Out Global Biometric Payment System

Read more on this subject: Technocracy
News Story Source: BY: MASTERCARD PRESS RELEASE
No more fumbling for your phone or hunting for your wallet when you have your hands full – the next generation of in-person payments will only need a quick smile or wave of your hand. The trusted technology that uses your face or fingerprint to unlock your phone can now be used to help consumers speed through the checkout. With Mastercard's new Biometric Checkout Program, all you will need is yourself.

As part of a global launch announced earlier today, the program represents a first-of-its-kind technology framework to help establish standards for new ways to pay at stores of all sizes, from major retailers to mom-and-pop shops. The program outlines a set of standards that banks, merchants and technology providers adhere to, helping to ensure the security and privacy of personal data when people pay biometrically.

Globally, 74% of consumers have a positive attitude towards biometric technology, and the market for contactless biometrics technology is projected to reach $
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