Mastercard unleashes new era of biometric payments

Mastercard unleashes new era of biometric payments

No more fumbling for your phone or hunting for your wallet when you have your hands full – the next generation of in-person payments will only need a quick smile or wave of your hand. The trusted technology that uses your face or fingerprint to unlock your phone can now be used to help consumers speed through the checkout. With Mastercard’s new Biometric Checkout Program, all you will need is yourself. 

As part of a global launch announced earlier today, the program represents a first-of-its-kind technology framework to help establish standards for new ways to pay at stores of all sizes, from major retailers to mom-and-pop shops. The program outlines a set of standards that banks, merchants and technology providers adhere to, helping to ensure the security and privacy of personal data when people pay biometrically.  

Globally, 74% of consumers have a positive attitude towards biometric technology, and the market for contactless biometrics technology is projected to reach $18.6 billion by 2026. 

“The way we pay needs to keep pace with the way we live, work and do business, offering choice to consumers with the highest levels of security,” said Ajay Bhalla, president, Cyber & Intelligence at Mastercard. “Our goal with this new program is to make shopping a great experience for consumers and merchants alike, providing the best of both security and convenience.”

Transforming the checkout experience 

Participants in Mastercard’s Biometric Checkout Program offer consumers the option to conveniently enroll into their biometric checkout services, in store or at home, through a merchant or identity provider app. Once enrolled, there is no need to slow down the checkout queue searching through their pockets or bag. Consumers can simply check the bill and smile into a camera or wave their hand over a reader to pay. The new technology ensures a fast and secure checkout experience, whilst also empowering consumers to choose how they want to pay.  

For merchants, the benefits are also considerable, from faster transaction times and shorter lines to greater hygiene and heightened security. The payments system can be integrated with loyalty programs and personalized recommendations to help consumers find products they might be interested in based on previous purchases.

Mastercard is working with partners including NEC, Payface, Aurus, PaybyFace, PopID and Fujitsu Limited to ensure the launch and scale of these types of new checkout capability around the globe, adhering to an overarching framework of minimum standards, specifications and guidelines that address security, biometric performance level, and data protection in the context of in-store biometric payments. 

The first pilot will be launched this week in Brazil with Payface and St Marche. The pilot will see Payface’s technology implemented across five St Marche supermarkets in São Paulo. Consumers visiting these supermarkets are able to enroll their face and payment information through the Payface app, and once registered, they can simply smile to pay at the checkout without a card or mobile device.  Future pilots are being planned for roll-out in the Middle East and Asia.

“We’ve been developing Payface since 2018, with a mission to help transform the way people pay – improving the experience, without compromising on security,” said Eládio Isoppo, chief executive officer, Payface. “This partnership with Mastercard is a welcome step forward for us and will enable our technology to be used by more merchants and consumers, making shopping easier and bringing the joy of a smile to payments.”

Building on a legacy of rich innovation

Biometric Checkout is Mastercard’s next step to support the evolution of payments, alongside a suite of recent innovations, such as Shop Anywhere, Enhanced Contactless (ECOS) and Cloud Point of Sale, which have been rolled out to provide consumers and merchants with frictionless, flexible and secure in-store experiences. 

Mastercard has long pioneered biometrics – instore and online – as a secure way to verify identity, replacing the password with the person. The effort, which builds on the EMV 3-D Secure standard, enables people to shop and pay through biometric-powered payment cards, devices and wearables. Biometrics have also featured in confirming online shoppers’ identities through “selfie pay” and online, leveraging key standards such as FIDO (Fast Identity Online). 

As this technology is increasingly adopted across the world, Mastercard is helping ensure all stakeholders maintain the highest levels of security and privacy to protect consumers. The Biometric Checkout Program is governed by Mastercard’s principles for data responsibility, reinforcing that consumers have the right to control how their personal data is shared and benefit from its use. 

TECH5 opens dedicated biometric R&D centres

TECH5 opens dedicated biometric R&D centres

TECH5, an innovator in the field of biometrics and digital identity management, has opened two more R&D centers. These new centers, located in Portugal and India, will bolster the main R&D center of the company in the USA, and will be dedicated to the research and development of biometric algorithms for all three biometric modalities – face, fingerprint and iris. The centers will also focus on the development of new features for TECH5 verification and identification platforms as well as digital ID technologies.

“We are continuously investing in R&D to make sure that our global partners and customers have access to the fastest and most accurate biometric and digital ID technologies and products serving all steps of the identity lifecycle.” – says Rahul Parthe, TECH5’s Chairman, Co-founder, and CTO.

The company also plans to increase the number of sales representatives and partners in all regions. “TECH5 will maintain its headquarters in Geneva, Switzerland, but our new entity in Lisbon will become a head office for the company’s management, marketing and R&D, as well as a place for partner meetings and our technology demo center.” – says Machiel van der Harst, Co-founder and CEO of TECH5.

Earlier this year, TECH5 Group formalized its entry into the Australian market with a local presence. This move allowed the company to work closely with local partners and customers. TECH5 Australia has recently deployed its first government project and is now in the process of onboarding new partners in the region.

TECH5 is also near completion of its disinvestment in Russia, which began in 2021. The company continues divesting corporate interests in the country and blocking the sale of TECH5’s platforms and technologies in Russia.

In 2022, TECH5 closed a second round of investment. As planned, the company is using these funds to accelerate its global expansion. In the coming months, TECH5 is planning to continue expanding its presence in Africa, Latin America and Asia. 

Bahrain and Saudi Arabia get UK electronic visa waiver status

Bahrain and Saudi Arabia get UK electronic visa waiver status

Saudi Arabia and Bahrain will join other Gulf Cooperation Council (GCC) states with electronic visa waiver status, the Home Office has announced. The move will maintain security and effective border processes ensuring necessary security checks are carried out ahead of travel whilst enabling smooth transit through the UK border for visitors.

An electronic visa waiver allows the holder to travel to the UK without obtaining a visa provided they complete an online waiver for each visit. A small fee will be applied, and it is quicker than applying for a visa as there is no need to provide biometric information (photo and fingerprints), attend a visa application centre or hand in your passport in advance of travel.

Home Secretary Priti Patel said:

This visa waiver for Bahrain and Saudi Arabia will better connect the people of our countries and boost economic prosperity.

The electronic visa waiver is a quick, digital alternative to the regular visit visa and ensures all the necessary security checks are carried out in advance of travel. The visa improvements announced today will provide greater security for our citizens while making it easier and cheaper for visitors from the Gulf to travel here for leisure and business.

Foreign Secretary Liz Truss said:

This visa waiver will strengthen our relationships with Saudi Arabia and Bahrain, making it easier for visitors from the Gulf to come to the UK.

Our friendships with both countries are of great importance, built on shared priorities such as trade, investment and security.

IDEX Biometrics partners with Verisoft

IDEX Biometrics partners with Verisoft

IDEX Biometrics ASA announces collaboration with payment software provider Verisoft A.S. for commercialization of biometric payment solutions in EMEA and globally. Verisoft delivers end-to-end smart card issuance solutions, ranging from personalization software, digital payment solutions, card management and loyalty systems across 32 markets, and has delivered EMV solutions to more than 100 banks, working with leading card vendors such as AustriaCard, G+D, IDEMIA, Kona I and TAG Systems.

Catharina Eklof, CCO of IDEX Biometrics, says, “IDEX collaboration with Verisoft will bring biometric card solutions to market for issuers and personalization bureaus at optimized costs and will broaden our positioning in the ecosystem. We are excited to partner with Verisoft to deliver a holistic and agile approach to biometric solution standards, securing seamless customer payment experiences.’

Onur Alver, CEO of Verisoft states, “Our collaboration with IDEX Biometrics will provide banks and other card issuers access to the next level of secure payment cards, as we expect adoption to accelerate as of 2022. We are delighted to partner with IDEX Biometrics in offering the highest performing fingerprint authentication solutions for smart cards”.

IDW Europe 2022: Important updates to the Conference Agenda

IDW Europe 2022: Important updates to the Conference Agenda

We’re excited to announce the next wave of speakers that will take to the Conference stage this June:

👉 Duncan Faulkner, Fellow – Security Documents, Bundesdruckerei GmbH, Document Security Innovations

👉 Guido Brockmann, Head Of Product Management Sector, EU-Lisa, Biometrics in Travel

👉 Martin Ingram, Product Owner IAM, NatWest Group, Digital ID in Financial Services

👉 Martin Sandren, Manager, IAM Engineering, Ahold Delhaize, IAM in Supply Chains

👉 Claudio Kavrecic, Head of Centre of Excellence for Combatting Document Fraud, Frontex, Fighting Document Fraud

👉 Krzysztof Rusajczyk, Head of Onboarding, Vodeno, Digital Onboarding in Financial Services

👉 Benoit Poletti, Chief Executive Officer, Luxembourg delegate to ICAO TAG/TRIP and IATA CAWG, INCERT, Digital ID in Travel

👉 John Barnett, Senior Forensic Document Examiner, Homeland Security Investigations, United States, Security Document Manufacture

👉 Rafael Sanchez Gomez, Director, BBVA next technologies, Voice Biometrics

👉 Tim Speelman, Coordinating Policy Officer, Digital Identity, Ministry of the Interior and Kingdom Relations, Netherlands, Digital ID and Government

To learn more and book the event, click here.

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Feitian selects Fingerprints’ next-generation T-Shape

Feitian selects Fingerprints’ next-generation T-Shape

Fingerprint Cards and Feitian, a global leading provider of cyber security products and solutions, are happy to announce that they are continuing their long-lasting relationship by bringing to market biometric cards based on Fingerprints’ next generation T-Shape™ (T2) module and BEP-software platform, aimed at the payment and access segments.

The T2 solution has ultra-low power consumption, and its robust biometric performance was recently demonstrated by achieving compliance with Mastercard’s new Fingerprint Sensor Evaluation Process. This new solution is even simpler to integrate into the standard automated card manufacturing process, using the proven and accepted T-Shape packaging delivered in dual row. For card manufacturers, this means higher throughput, reduced waste and lower embedding costs.

“Based on our long-standing partnership with Feitian, we are pleased to collaborate on this biometric solution together with them. Feitian has once more chosen to work with us at Fingerprints and our proven biometric solution, which will guarantee high performance, quality, and security. I strongly believe that this next-generation solution has the potential to be a gamechanger in the biometric smartcard industry, delivering improved cost-efficiency, increased image quality and transaction speed as well as improved power efficiency”, says Michel Roig, President of Payments & Access at Fingerprints.

“Once again, we have chosen biometric technology from Fingerprints, as they have the leading biometric solution on the market. The collaboration resulting in this next generation biometric payment and access cards will ensure a product with a wide range of possibilities for our customers’ needs“, says Yan Yan, Vice President at Feitian.

Veridas wins award for best technology company in LATAM

Veridas wins award for best technology company in LATAM

Global Finance magazine, which specializes in financial markets and investment banking, has recognized Veridas in its Innovators 2022 Awards for its innovative contribution to the financial sector. Veridas has been awarded, on the one hand, in the category of outstanding innovations in fraud detection thanks to its voice biometrics tool to perform the proof of life of pensioners in Mexico for BBVA. On the other hand, it was named the most innovative technology company in the Latin American region. Veridas’ project in Mexico has achieved a new, more secure and inclusive digital banking: more than 80,000 pensioners no longer need to travel twice a year to their bank branch because, thanks to Veridas and BBVA’s voice biometrics, they can now provide proof of life over the phone in just 3 seconds.

Regarding the recognition of Veridas as the most innovative technology company in Latin America, Mauricio Guijarro, Vice President of Sales for the Americas at Veridas, explains that “these awards from Global Finance come to recognize the intense work we have been doing for years in the region, where major banks already rely on our biometric technology”.

Miguel Zarraluqui, Global Product Marketing Manager of the company, affirms that “it is a commitment of all of us to close, with the best technology, the digital gap that our elderly people suffer so many times; changing the lives of thousands of Mexican pensioners with our voice biometrics fills us with pride and this recognition from Global Finance is a great satisfaction”.

Veridas works with more than 120 clients worldwide, where it has already performed more than 60 million identity validations. In addition, its commitment to quality, regulation, and compliance is paramount: it is recognized by the U.S. National Institute of Standards and Technology (NIST) as one of the best face and voice biometric technologies in the world; it has recently obtained the ISO 30107-3 compliance report after passing the Presentation Attack Detection (PAD) level 2 test conducted by iBeta Quality Assurance, consolidating its

leadership as a technology capable of fighting identity fraud and, among other milestones, hand in hand with BBVA, is one of the few technology companies that has managed to integrate its facial biometrics engine in the central Mexican public institution, the National Electoral Institute (INE), responsible for issuing the credentials used by Mexican citizens to prove their identity in electoral processes or when opening bank accounts. Global Finance magazine has chosen the most outstanding innovations in finance in multiple categories as part of its annual innovation awards. This is the tenth edition of the awards that recognize banks, companies, and fintechs that identify new paths and design new tools in finance.

iDenfy’s biometric ID verification ensures convenient and secure loans for Credex

iDenfy’s biometric ID verification ensures convenient and secure loans for Credex

Lithuanian-based remote ID verification and fraud prevention startup, iDenfy, partners with Credex, the automated lending platform for point of sales financing. iDenfy’s full-stack identity verification will ensure a swift and safe lending experience for Credex’s customers.

The pandemic accelerated a sharp rise in cybercrime. According to IT Governance, 39% of companies suffered cyberattacks last year. As a result, compared to the previous year, fewer businesses are using fraud prevention tools or performing any type of customer monitoring.

Without the extra security layer, organizations leave an open door for fraudsters to strike. To avoid damaging consequences, such as compliance fines, reputational loss, or financial crime, organizations implement AI-powered tools. This way, they are able to analyze various data points as well as huge transaction numbers and detect fraud in real-time.

According to Credex, choosing long-term partners is not an easy step, especially since their services have a huge impact on the clients’ experience; therefore, when searching for a new identity verification provider, the company prioritized safe, user-friendly options and selected iDenfy’s automated service.

Credex is a licensed automated lending platform providing secure loans using a fully digital stream. The financial institution provides its customers with convenient, easy-to-apply, personalized loan options and favorable terms. Currently, Credex has over 100,000 clients worldwide, aiming to increase its lending volumes.

As per iDenfy, remote ID verification prevents online scammers from carrying out processes on another person’s behalf or committing fraud through false, synthetic identities. iDenfy fights cybercriminals and protects businesses by offering full-stack identity verification and fraud prevention measures.

Its AI-powered biometric technology matches the user’s selfie with their document in less than a minute, and the 3D liveness check ensures that the customer is real and physically present during the onboarding process.

iDenfy’s certified verification software increased Credex’s clients’ satisfaction due to the swift, simple Know Your Customer (KYC) process. According to the lending platform, iDenfy’s solution encouraged more clients to download the Credex Mobile Application and minimized the rate of abandoned transactions.

“Fraud prevention is essential in this digital age, and for businesses that have high transaction volumes, it can be challenging. We’re proud to collaborate with iDenfy, a responsible business, helping us overcome such cybersecurity threats and providing our clients with a pleasant identity verification experience.” — explained Traian Baicu, the General Director of Credex.

“Identity verification allows businesses to onboard their customers with confidence. Thanks to technology and artificial intelligence, we can detect fraud or money laundering in real-time, avoiding grim consequences. We’re delighted to work with Credex, a business that also prioritizes convenience and security.” — commented Domantas Ciulde, the CEO of iDenfy.