Jane Khodos | March 23, 2016 | Industry News

Staff at BMO Financial Group, one of the world’s largest banks, will be able to make payments with  their corporate accounts as part of a new trial using fingerprint and facial recognition in the U.S. and Canada.  BMO will begin testing MasterCard’s Identity Check mobile app, which will replace passwords with biometric checks for online shopping. Read the full press release.

Since first trialling the technology in the U.S., and Europe in 2015, MasterCard has made advancements with Identity Check – popularly nicknamed “selfie pay” by the press – to simplify the online shopping process using biometrics.  The technology allows cardholders to authenticate payments using a fingerprint or taking a selfie photo.

“Biometrics is important in bringing to life the next generation of identity authentication. So far, consumer feedback and user experience has been very positive. We look forward to our official launch this summer” said Ajay Bhalla, president of Enterprise Security Solutions at MasterCard.

In the Netherlands, 750 ICS bank cardholders having been verifying their identity during online transactions.  MasterCard conducted a consumer survey among the participating cardholders with overwhelming results which revealed:

• Nine in 10 cardholders would like the biometric identification system to replace passwords
• 75% of users are convinced that biometric payments will decrease fraud
• 92% rate MasterCard Identity Check as more convenient than passwords
• 83% MasterCard Identity Check is more secure than passwords
• 60% would strongly recommend MasterCard Identity Check to family or friends

In the U.S., the results of First Tech Federal Credit Union’s trial saw 200 employees try out Identity Check as a secure method to authenticate payments in October 2015 with positive results:

• 88% of pilot participants found biometrics overwhelmingly easy to use
• 86% found fingerprint and facial biometrics easier to use than passwords

MasterCard Identity Check will be launched in the summer of 2016 in the US, Canada, and the U.K.

This is yet another step toward ending the need to remember passwords. These advancements bring MasterCard closer to making payments not only quicker and easier, but also safer and more secure through biometric technology.

Links to videos:

• MasterCard Identity Check: Facial Recognition Biometrics
• MasterCard Identity Check: Fingerprint Biometrics
• MasterCard Identity Check: Consumer Research Shows Biometrics (“Selfie Pay”) over Passwords