MasterCard is utilizing Daon’s IdentityX Platform as one of the authentication technologies behind MasterCard Identity Check.
The app-based authentication solution, commonly dubbed “Selfie Pay” by the media, leverages a mobile device to secure online payments and mobile banking applications using fingerprint and facial recognition.
MasterCard Identity Check employs a layered approach to security, including device cryptography, geolocation, and biometric verification enabling consumers to have a safe and easy way to complete payments online. Banks will benefit by having increased approval rates, providing more choice to consumers, improved cardholder loyalty and a strong fraud protection tool. The technology will help merchants reduce cart abandonment thus helping drive revenue.
Daon is a provider of biometric authentication and identity assurance solutions focused on meeting the needs of enterprise and public sector customers worldwide. Daon has pioneered methods for securely and conveniently combining biometric and identity capabilities in multiple channels. Daon empowers its customers and their users to choose the factor or combination of factors that best meet their situational needs and preferences.
Daon’s offerings include rich mobile biometric authentication and biometric identity management solutions with deployments that include payments verification, digital banking, border management, immigration, employee credentialing, national ID, passports, driver’s licenses, voter registration, beneficiary verification, and cloud authentication.
For a complete archive of more than 60,000 articles published since 1995 search the CardFlash.com library.