No more forgettable passwords, impossible pin numbers, or scary security codes. Soon you will be able to scan your face and pay your bills with MasterCard. At least, that’s what the company promises, and it sounds really, really sci-fi.
Ajay Bhalla, the mastermind of innovative technological solutions at MasterCard is the one who has come up with this idea. His idea was to make an authentication method that would be more appealing to the young selfie generation. To make something cool.
The reason behind another new security system would be that the current ones simply aren’t secure enough. Although there is something called “SecureCode,” that is in place for MasterCard users that make their purchases online, Bhalla says that there is a need to do away with all these passwords that we use. His opinion is that one person has too many numbers and codes and cannot realistically remember them all.
This new method will identify you by who you are, the company boasts, and not by what you may or may not remember.
Apple brought an exciting and innovative fingerprint scanning technology and put it in the iPhone in 2013, and enabled Apple Pay. These systems quickly became immensely popular and thus proved that people are willing to utilize biometric tech systems for authentication purposes.
But, unlike Apple, MarsterCard was not that successful with its SecureCode, thus proving the inefficiency of further endorsing codes and passkeys as identification means. Still, costumers feel a need for further security as the code was still used by three billion transactions in 2014.
The company has been in talks with all major smartphone makers, Apple, BlackBerry, Microsoft, and Samsung to make available an app that would work with any online transaction. How? Well, once you’ve confirmed purchase for something online, a push notification on your phone will, quite frankly, ask you for a selfie.
While taking the actual photo, the user has to blink. MasterCard decided that blinking would be a foolproof method of making sure nobody uses a picture of you to steal your vacation money. The picture or fingerprint (for those phones which have finger scanning tech) will subsequently be converted into a binary code which will be transmitted to MasterCard.
So, nobody’s going to actually have pictures of you on their work station. And Bhalla says they can’t reconstruct a photo from a binary code.
While this project is in testing, MasterCard also has plans for security authorization via your heartbeat, or speaking to your phone. One wonders, is this really how we’ll pay for things in the future?