September 19, 2014 -
MasterCard said that its biometric verification system, which combines both voice and facial recognition, has achieved a 98% success rate in its pilot trials, according to a report by FinExtra.
The credit card firm recently held a closed pilot trial to gain a deeper understanding of consumer interaction with voice and facial recognition.
“We created a beta mobile app which we tested in an ecommerce environment on over 14,000 transactions,” said MasterCard. “The test group, drawn from MasterCard employees around the world, used both Android and iOS operating systems. The results were very exciting, yielding a successful verification rate of 98%, mixing a combination of voice and facial recognition.”
The entire process took less than 10 seconds, said Mastercard.
Mastercard recently partnered with Apple for its new Apple Pay service, which enables users to easily make secured mobile payments by including a near-field communication chip embedded in the device.
“The launch of Apple Pay will start to bring true scale to the next generation of payments authentication.” says MasterCard: “Our challenge is to take lessons from the different applications of biometrics already in place and elevate them into the next generation of authentication, not just for one platform, but for the mass market globally.”
MasterCard recently posted a video that addressed how the credit card manufacturer combats security and safety issues in the industry.