MasterCard introduces new payment app

MasterCard has introduced a new payment technology application that uses biometrics, including fingerprint and facial recognition, to verify a cardholder’s identity and simplify online shopping.

BMO Financial Group (BMO) will be the first bank in America and Canada to offer Identity Check Mobile to its corporate customers from the first half of the year.

The rollout of Identity Check Mobile follows a launch of Mastercard and BMO earlier. Three of every four participants agree that biometrics is easier to use than passwords. Nine out of 10 participants anticipate using biometrics for online payment security in the future.

“The pilot tested the potential of delivering greater security and convenience using biometric technology. Our goals were to understand the attitudes and perceptions of our participants toward biometrics as an online payment security solution,” Steve Pedersen, vice president, head, North American Corporate Card Products at BMO, said.

“After using Identity Check Mobile, our programme participants gave strong reviews on biometric security and ease of use, especially as compared with passwords. We are looking forward to bringing this same experience to our clients in 2017,’’ he added.

Mastercard Identity Check Mobile minimises the need for passwords, dramatically speeding the digital checkout process while also improving security. A cardholder can verify his/her identity by using the fingerprint scanner or facial recognition technology on his/her smart phone with the Identity Check app