Research and Markets: MasterCard Launch Selfie Recognition System for Online Payments

Feb 23, 2016, 18:52 ET from Research and Markets

DUBLIN, February 23, 2016 /PRNewswire/ --

The global mobile biometrics market is expected to grow at a massive CAGR of 128.4% by 2019, according to a report published on Research and Markets. The report states that mobile biometrics are being increasingly used to authenticate the access to and use of mobile devices. This was further evidenced today by news that MasterCard will begin accepting selfie photos and fingerprints scans as an alternative to pass-codes when verifying identification for online payments.

The credit card giant told the BBC that their decision is based on a successful trial of the software in the US and Netherlands, where 92% of test subjects preferred the new authentication process. Users will still have to provide their credit card details as normal, with the new checks only taking place if further authentication if required.

With the implementation of the BYOD policy in enterprises and an increase in the adoption of mobile devices among individual consumers, maintaining security and personal data has become very important. A report on the global fingerprint mobile biometrics market expects growth at 215.49%, while a similar report on the overall facial recognition market expects growth from $2.77 Billion in 2015 to $6.19 Billion in 2020.

A growing number of devices are being integrated with fingerprint biometrics, according to the reports.

However, some security researchers have questioned how easy it might be to spoof the system. MasterCard say the data will not be transmitted in a form that could be intercepted, stolen or used by scammers. If the user opts for a selfie, for example, they will have to blink into the camera to prove they are not just holding up a photograph.

The system will be rolled out in 14 countries this summer, including the US, UK and Germany.

For further information on this topic, and a full list of all related documentation, please visit the Biometrics section at http://www.researchandmarkets.com/rm/MHQM.

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Source: http://www.bbc.com/news/technology-35631456

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SOURCE Research and Markets