MasterCard to launch Selfie Pay verification for online payments and e-commerce

By Gadjo Cardenas Sevilla

Toronto - MasterCard Canada showed off their enhanced two-factor authorization feature called Selfie Pay today which is being launched as  a pilot for corporate card users and which is expected to be made available to customers of the Bank of Montreal and other participating banks in the Summer.

Previously called 'MasterCard Identity Check,' the service leverages existing smartphone technologies like the fingerprint sensors on Android devices as well as Touch ID on recent Apple iPhones as well as the front-facing cameras to help confirm a person's identity in the event of online purchases.

This is a spin on two-factor authentication, a security feature where if you buy something on your PC or sign into a service, the service will either send you an email with a code or send the code as a multiple digit text message. This ensures that you, the user, are indeed the person making the purchase at that point in time.

This offers far better security than a password or four digit code entered at the time of payment since hackers can steal this information easily and access your account or services remotely.

Using facial recognition (stored by MasterCard, so banks don't have access to it), Selfie Pay can biometrically scan and confirm you are who you say you are. A faster way to get verification is the fingerprint reader which takes merely a second to confirm (and the data here is stored on your phone).

MasterCard rebranded the service Selfie Pay to appeal to Millennial users who are already more than happy to shoot and post selfie photos on social media. I do find it curious that they're piloting the service with their more conservative and mature corporate card client holders who are less likely to respond to something that seems like a faddish solution.

To be able to use the service when it rolls out this summer, your bank or credit card provider will need to be affiliated with MasterCard and offer the service. You will need to enroll your facial profile to MasterCard as well as sign up for the service. It will be useful if you're perusing a product on an online store and want to make a purchase. Once you check out, the corresponding app on your iPhone or compatible Android device will prod you to scan your fingerprint or shoot a selfie and once this verification is approved the sale is completed. 

While the fingerprint authorization remains the most straightforward and fastest way to ensure authorization, Selfie Pay does make sense to users who don't have smartphones with that feature (but it is looking more like mobile payments need fingerprint readers moving forward). What happens when your face changes dramatically (extreme weight loss, surgery, a new beard), simply re-enroll your biometrics to continue using the service.

Banks and credit institutions can really thank technology companies like Apple and Google who are making these features like fingerprint readers and verification siloes available in smartphones which can only result in more choice for consumers looking for new ways to authorize payments using devices they already own or are planning to buy.