Selfies are not just social currency for the self-obsessed. It turns out, they can be real currency, too.
Bank of Montreal card holders will now be able to use selfies and fingerprint scans to verify their identify when making online purchases, as part of a biometric program that the bank has launched in conjunction with MasterCard.
Customers who want to try selfie authentication can do so by downloading the MasterCard Identity Check mobile app, which will allow them to snap a selfie anytime to validate their identities before letting them complete a purchase on a merchant site.
Apart from their faces, customers can also scan their fingerprints to prove that they — instead of some impostor– are making a purchase. The scan even verifies that the selfie is legitimate and not a previously taken photo, requiring users to blink when they take it.
“Fraud prevention is definitely an important factor, but enhancing customer experience was the biggest driver for us,” Steve Pederson, vp and head of North American corporate card products at BMO Financial Group. “If there is suspicious activity, we can always block a transaction, but that’s not good customer experience.”
Pederson acknowledged that the selfie feature would probably be an attractive feature to younger customers. But that wouldn’t hamper its adoption among the older demographic in any way, given that more phones have cameras than touchscreen-enabled sensors.
“It doesn’t matter if you’re in your 20s or 50s,” he said. “All customers will be happy knowing that they don’t have to sacrifice their convenience for their security.”
MasterCard is not the only one to attempt to replace punching in passwords with newer technology. Citibank’s mobile app lets log into its app using fingerprint scans and last month, HSBC too announced that its customers too would soon be able to use their voices and fingerprints to access their accounts.
MasterCard, however, is going beyond selfies and swipes. The company told CNNMoney that it is also working on other ways to authenticate purchases, including Iris scans, voice recognition and even monitoring customer’s heartbeats.
The first phase of BMO’s rollout is kicking off off in Canada and the U.S., and is aimed at developing better protection against potential fraud while minimizing the need for customer service inquiries. Once complete, the next phase will be to make the technology available to customers more broadly beginning in summer 2016.
Gaming industry execs chime in on changing consumer habits and the the rise of AI in Q1 2023
The gaming industry's ascendance was checked in the first quarter of 2023, as brands and consumers decreased their spending in the sector in anticipation of a mounting recession.
Brand, agency execs speak out on Google’s latest cookie-killing plan and cookieless identifier challenges
During the Digiday Programmatic Marketing Summit, brand and agency executives weighed in on the present and future of the third-party cookie and cookieless identifiers.
Inside NHL’s content strategy ahead of the Stanley Cup Finals
The NHL is offering live and on demand content on YouTube and across social media platforms such as TikTok, Instagram and Twitter.
SponsoredHow enterprise-grade CDPs are enhancing data processes and improving customer experiences
Produced in partnership with Marketecture The following article highlights an interview between Martin Kihn, Salesforce’s senior vice president of Marketing Cloud, and Ari Paparo, founder and CEO of Marketecture Media. Register to watch more of the discussion and learn how brands are making the most of enterprise-grade CDP technologies. As brands expand across channels and […]
‘We need an ad exchange for identity’: Overheard at the Digiday Programmatic Marketing Summit
Brand and agency executives discussed the state of cookieless identifiers, ad tech firms attempting to become one-stop shops and the extent to which ads should and shouldn’t be personalized.
Five years in, the GDPR has had a double-edged impact on the ad market
When it launched in 2018 the GDPR was hailed as a privacy superhero of sorts. It set the rules for how companies handle personal data, making sure they couldn’t just grab it without someone’s permission.