First Tech Federal Credit Union, MasterCard testing 'Selfie Pay' system
US-based First Tech Federal Credit Union has implemented a pilot program with MasterCard.
The venture will test out biometric authentication for online transactions.
Called Selfie Pay, the technology lets users take a selfie photo on their smartphone to pay for an item.
The pilot will test the potential of delivering greater security and convenience to First Tech’s US cardholders by verifying identity via facial photographs or fingerprint scans conducted on smartphones.
With this technology, the financial institutions hope to improve the ease and convenience for clients when using credit and debit cards for online purchases while benefiting from advanced technologies to help ensure payment security.
More than 200 employees of the credit union will participate in the pilot program during September and October 2015 in Mountain View, California.
The closed environment pilot will see participants make virtual donations to the Children’s Miracle Network (CMN) Hospitals as First Tech bids to gauge whether biometrics could deliver greater security and convenience to customers.
First Tech Federal Credit Union CEO Greg Mitchell said: “At First Tech, we’re establishing a strong track record for bringing the most secure and forward-looking payments security to our members, first with our introduction this year of chip-and-PIN debit and credit cards. In that spirit, this biometrics pilot program represents an exciting next step in payment convenience and security.
“Our members are some of the most technologically focused consumers on the planet, and being an innovator in the payments security space is evidence of our strong desire to meet our members’ unique needs.”