Mastercard have introduced a new payment technology that uses fingerprint or facial recognition software to confirm a purchase, reducing the risk of fraudulent purchases.
The revolutionary payment software has been implemented in the UK, Germany, and Sweden after successful trials in the US, Canada and The Netherlands.
This technology, which is available for banks to roll out as of today, means customers will no longer need to remember a pin number or password and will reduce the risk of online theft.
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By using the Identity Check Mobile app shoppers can make online purchases instantly, in what the financial giant is hailing as a “significant milestone” in the evolution of payments.
“Shopping in person has been revolutionized thanks to advances like contactless cards, mobile payments and wearables, and now we are making Identity Check Mobile a reality for online shopping in Europe, and soon, the world,” Mastercard risk president Ajay Bhalla said.
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