LONDON: MasterCard is set to introduce a suite of services called Identity Check for consumers, including biometrics and one-time SMS passwords. The services will be made available globally in 2017.
The service is designed to prove a customer’s identity when they are shopping online using their smartphone.
According to MasterCard Australasia head of market development and innovation, Garry Duursma, existing methods to prove an identity online can be time consuming and sometimes result in the purchase being declined or abandoned.
“Today, people shop on all sorts of devices, and they expect technology to simplify and secure the transaction,” said MasterCard president of enterprise security solutions Ajay Bhalla.
“This is exactly what Identity Check delivers.”
Trials of Identity Check are underway in the Netherlands and the US.
US banks can choose to participate in Identity Check beginning in the middle of 2016, with a global expansion in 2017.
MasterCard has also released the results of a global survey into online security conducted with 10,000 people in 17 countries.
