You’re probably not alone in your struggle to remember passwords. If you remember your password because it’s simply “password” or “1234567,” you’ve probably hit rock bottom. That’s precisely why MasterCard has just unveiled “Selfie Pay,” a biometric identification system that uses (you guessed it) your face!
With selfie pay, customers will be able to purchase things hassle free by using either a selfie or a finger print. Senior Vice President of MasterCard, Catherine Murchie, made a statement to CBC saying that biometrics are not only easier, but are in fact safer as the amount of passwords we have to remember usually compromises they’re security.
So how does MasterCard Selfie Pay work? Users have to upload a selfie, which is then stored and encrypted in MasterCard’s servers. Based off this photo an algorithm unique to your face is created – pretty cool, huh? As for the fingerprint technology, users have to set up an initial finger print which is then stored on their smartphone.
Hold your horses before you get all skeptical! An alleged cyber criminal snapping a photo of your photo will not work. When using the Selfie option, you are asked to blink, which verifies that you are an actual living person. The only pitfall to the Selfie method is if you are a twin. In this case MasterCard recommends using the finger print method, but in all other situations (even if you lose weight) the facial recognition will work.
As of now, the Selfie Pay only is available for e-commerce transactions from merchants who have signed up for MasterCard’s SecureCode program (approximately 8,000 in Canada), but in-store payments will be implemented in the future. The system will be launched this summer beginning through a “soft launch” with BMO corporate cardholders, then becoming widely available.
There is no information yet on other banks that will be implementing the software, but it sure seems like the way of the future. As if we needed another reason to take a selfie… but hey, now you have an excuse if your friends walk in on you having an embarrassing selfie session!