LONDON (CNNMoney) MasterCard wants to ditch the old-fashioned password and use selfies to approve online purchases.
The
company announced it is launching new mobile technologies that will
allow customers to authenticate their online purchases using selfies or
fingerprints.
The
technology will be rolled out by big banks in the U.S., Canada, the
U.K. and some European countries over the next few months.
People
from around the world will be regularly using this authentication
technology within five years, said Ajay Bhalla, president of enterprise
security solutions at MasterCard.
Bhalla
said that using facial and fingerprint scans for purchases is safer
than typed passwords since many customers foolishly use easy-to-guess
codes.
Customers
who want to try selfie authentication will have to download a special
MasterCard app that will allow them to take a photo each time they make
an online purchase. Their face (or fingerprint) will be scanned to prove
that they not hackers or thieves are making a purchase.
The
scan will verify that it's a legitimate selfie instead of a previously
taken photo by requiring users to blink when they take their own photo.
The fingerprint authentication can be used on new smartphones, including the iPhone 6 and iPhone 6S.
MasterCard
said it's also working on other ways to authenticate purchases,
including monitoring a customer's heartbeat. Iris scans and voice
recognition are also being explored.
MasterCard is not alone in introducing new technology to replace typed passwords.
HSBC
announced last week that millions of account holders would soon be able
to use their voice and fingerprints to access their money.
People
who use HSBC's phone banking services will be able to register their
voice with the company instead of using a regular password. Special
voice biometrics technology will analyze a customer's voice when they
call the bank. Even if customers get a cold, the technology should still
work.
Customers
with the latest iPhones which already boast fingerprint login
technology will be able to access their accounts on their mobile phones
using their fingerprint.
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