MasterCard to offer new identity check from mid-2016

MasterCard to offer new identity check from mid-2016

06 OCT 2015

MasterCard is to introduce a range of security measures, including phone-based biometrics and SMS-delivered one-time passwords, as alternatives to existing methods of establishing online identity.

The aim of MasterCard Identity Check is to simplify the online shopping experience, meaning fewer consumers abandon transactions before completion.

Existing methods to establish an identity online, such as passwords, can take users away from a retailer’s website, making the process potentially slower and sometimes leading to the purchase being declined or abandoned.

The credit card giant says the idea is to shift from what the consumer knows (ie password) to what they have (mobile phone or other smart device) and who they are (biometrics).

MasterCard is already trialling biometrics with hundreds of cardholders in the Netherlands and US.

US financial institutions can choose to participate in MasterCard Identity Check beginning in the middle of 2016, with a global expansion in 2017.

Author

Richard Handford

Richard is the editor of Mobile World Live’s money channel and a contributor to the daily news service. He is an experienced technology and business journalist who previously worked as a freelancer for many publications over the last decade including...

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