What is Mastercard’s new “wave to pay” biometric program?


MasterCard is testing new technology that allows shoppers to make payments simply with their face or hand at the point of payment.

The payments giant has announced that it will soon be rolling out a new biometric payment program, which will establish a set of standards that banks, merchants and technology providers must meet when people pay using biometrics.

The card scheme is working with partners such as NEC, Payface, Aurus, PaybyFace, PopID and Fujitsu Limited to launch the program, which will provide a comprehensive framework of minimum standards, specifications and guidelines regarding security, biometric performance level and data protection in the context of in-store biometric payments.

“The way we pay must keep pace with the way we live, work and do business, providing consumer choice with the highest levels of security,” said Ajay Bhalla, President, Cyber ​​& Intelligence at Mastercard. “Our goal with this new program is to make shopping a great experience for consumers and merchants, providing the best in security and convenience.”

Provide a simplified customer experience

Participants in Mastercard’s biometric payment program offer consumers the ability to enroll in their biometric payment services, in-store or at home, through a merchant or identity provider application. Once registered, consumers can check the bill and smile at a camera or wave over a reader to pay. According to Mastercard, the new technology ensures a fast and secure payment experience, while allowing consumers to choose how they pay.

For merchants, the benefits are many, ranging from faster transaction times and shorter queues to greater hygiene and increased security. The payment system can be integrated with loyalty programs and personalized recommendations to help consumers find products that may interest them based on their previous purchases.

The use of biometric information for payments

The announcement is accompanied by research that suggests that 74% of global consumers have a positive attitude towards biometric technology, and the contactless biometric technology market is expected to reach $18.6 billion by 2026.

Biometrics has become increasingly common among consumers, thanks to smartphones with fingerprint readers and facial recognition authentication technology, which in turn allows us to unlock devices, open apps and make payments with a tap or a glance. Biometric authentication can be quick and convenient, eliminating friction from the checkout process and providing a superior customer experience. It also reduces the risk of a user forgetting their PIN and having to abandon a payment.

As this technology is increasingly adopted around the world, Mastercard said it helps ensure that all stakeholders maintain the highest levels of security and privacy to protect consumers.


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