Post by abbey1227 on May 30, 2022 5:51:44 GMT
Mastercard’s newly launched face recognition payment system is already raising accuracy concerns
Rahul Verma May 27, 2022, 13:51 IST
Earlier this week, Mastercard launched a new payment system - ‘smile to pay’.
Users can make a payment by showing their face or palm, instead of swiping a card.
Third-party authentication and data usage raise security concerns over new payment system.
Mastercard recently launched a new facial recognition payment system that lets shoppers make payments with their face or hand gestures. This new payment system is being rolled out to biometric payment systems including fingerprint scanning and facial recognition.
The new payment system from Mastercard is known as ‘smile to pay.’ It is aimed to reduce transaction times, shorten queues in shops, increase security and improve hygiene by going cardless. Currently, this feature is live in Brazil and Sao Paulo. The company says it plans to roll it out globally later this year.
With this new tech company aims to change the way we pay but it also raises concerns relating to data storage, customer privacy and crime risks.
To use facial recognition-based payments, Mastercard’s biometric checkout system will provide biometric authentication with third-party companies. The company has already partnered with Payface, NEC, Fujitsu, Aurus, PopID and PayByFace.
Rahul Verma May 27, 2022, 13:51 IST
Earlier this week, Mastercard launched a new payment system - ‘smile to pay’.
Users can make a payment by showing their face or palm, instead of swiping a card.
Third-party authentication and data usage raise security concerns over new payment system.
Mastercard recently launched a new facial recognition payment system that lets shoppers make payments with their face or hand gestures. This new payment system is being rolled out to biometric payment systems including fingerprint scanning and facial recognition.
The new payment system from Mastercard is known as ‘smile to pay.’ It is aimed to reduce transaction times, shorten queues in shops, increase security and improve hygiene by going cardless. Currently, this feature is live in Brazil and Sao Paulo. The company says it plans to roll it out globally later this year.
With this new tech company aims to change the way we pay but it also raises concerns relating to data storage, customer privacy and crime risks.
To use facial recognition-based payments, Mastercard’s biometric checkout system will provide biometric authentication with third-party companies. The company has already partnered with Payface, NEC, Fujitsu, Aurus, PopID and PayByFace.
According to reports, customers have to install a third-party app that will take their pictures and payment information. All the information will be stored on third-party servers. While checkout, the customer's face will be matched with the stored data to make a payment.
www.businessinsider.in/tech/news/mastercard-launches-new-face-recognition-payment-system-now-accuracy-raises-concerns/articleshow/91831651.cms
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