MasterCard to launch biometric payments solution in Europe
MasterCard is reportedly planning to introduce a biometric payments solution in Europe later this year.
The new solution will use biometrics including facial recognition and fingerprints, reported Business Reporter.
MasterCard president of enterprise security solutions Ajay Bhalla told Business Reporter: “The future is moving towards biometrics… which we will be launching in Europe this year. The second thing is tokenisation for a number of cards.”
The publication said that MasterCard has already been working with Apple Pay to launch a tokenisation system for transactions.
“We believe that by taking all these steps we will make the system more secure. If a card is compromised it is the token which is compromised not the number on the card,” Bhalla added.
In November 2014, MasterCard unveiled plans to launch a new authentication standard in partnership with Visa that aims to end the use of passwords in online payments.