Payments giant Mastercard has announced that it will enable payment with a flick of the arm or a smile. It is part of the Biometric Payment Program, which establishes biometric technology-based payment standards for banks, merchants and suppliers.
The company backs the announcement with a survey that says 74 percent of all consumers worldwide are positive about biometric technology. The contactless biometric technology market should reach US$18.6 billion by 2026.
Program participants can enroll their customers in biometric payments. Payment can then be made by smiling at a camera or by running the hand over a reader. Advantages such as faster processing, greater hygiene and increased safety are mentioned. The system can also be used in conjunction with savings campaigns and personalized offers, thus omitting the issue of privacy in the press release.
The first pilot will launch this week at five St Marche supermarkets in São Paulo, Brazil, in partnership with local start-up Payface. A pilot is underway in the Middle East and Asia.
Source: Hardware Info
