There is a lot of discussions on how biometrics will change how payments are made. MasterCard did research and created a video based on the MasterCard Identity Check consumer trial and their feedback. Not only were the insights around passwords interesting but the biometric app results from the consumer trial proved positively there is an appetite for change and the removal of passwords. The consumer research is based on participants in the MasterCard and International Card Services (ICS) Dutch trial conducted with 750 ABN AMRO cardholders. Read the full press release below
Biometrics payment pilot participants prefer fingerprints and facial recognition authentication to passwords
Amsterdam- February, 22 2016 – The Dutch participants of the first worldwide pilot by MasterCard and International Card Services (ICS) embrace the new technology, where consumers can pay online using a fingerprint or a selfie. Nine out of 10 participants indicate that they would like to replace their password with biometric identification definitively. Almost 75 percent of users are convinced that biometric payments will decrease fraud. The 750 ABN AMRO cardholders have been able to complete their online purchases easily without pin codes, passwords or confirmation codes over six months.
Biometric payment as the future is definitely supported by the enthusiasm of the test’s participants. After the pilot, the vast majority want to continue using a fingerprint and/or facial recognition (seventy-seven percent) to complete a payment.
“The Dutch consumer is very progressive in embracing new technologies. Our country is the international leader in easy, safe and efficient payments,” says Arjan Bol, Country Manager MasterCard Netherlands. “We are now examining the possibilities to integrate our technology in the banking and tech giants’ apps to make payment using a selfie or fingerprint even easier.”
The pilot launch in the Netherlands has led to commercial interest from around the world. We will be launching this technology in the U.S., Canada and parts of Europe in the summer of 2016.
Contactless cards, smartphones and smartwatches have been providing new payment experiences in stores already. Online shoppers expect the same payments experience in web stores. The Dutch participants of the first worldwide test by MasterCard and ICS are mostly positive about the ease of use of biometric payments. Of those surveyed, 95 percent of the fingerprint users and 80 percent of the facial recognition users indicate that shopping became more convenient using biometric authentication.
Besides ease of use, participants are convinced about the safety of biometric payments. Almost 75 percent of users expect that biometric payments will decrease fraud.
“Biometrics, unlike passwords, ensures convenience. People forget passwords, making the payment process unnecessary long and complex so we expect that passwords will slowly become obsolete in favor of a more user friendly alternative, such as biometrical identification,” says André IJbema, Manager Risk Management at ICS.
The digital check identifies users using unique individual characteristics, like fingerprint or face. The consumer will get a pop-up on their cellphone when paying in the web shop, during which time, they will simply authorize the transaction using their fingerprint or facial recognition.
At MasterCard, safety comes first, as demonstrated by a long history of leading the industry through investment and innovation that delivers multiple layers of technology – like EMV, tokenization, location alerts, MasterCard Safety Net and IQ Series – to protect each and every transaction. As a result, MasterCard has become the safest, simplest and smartest way to pay.
MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on theBeyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.
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