Will selfies replace passwords at MasterCard?

MUMBAI, INDIA: There is a revolution brewing in the payments industry.

In a first of sorts, MasterCard is testing a new facial recognition technology which will allow a user to pay just by clicking his selfie. The self will be used to verify the users’ identity online.

On Thursday, the company affirmed that it is looking to add a layer of biometric security to its credit cards and all a user has to do is simply click a selfie.

It is learnt that the company is already piloting the technology with about 500 users who are prompted to take a selfie by using the MasterCard app on their smart phone at the online checkout point. These users do not have to key in their digital passwords.

How the process works?

At the backend, the system will create a digitized map of your face, convert it into a hash and compare it to the hash stored on MasterCard's servers.

In simple terms, this app converts the selfie into 1s and 0s by using facial recognition technology, and transmits it over the Internet to MasterCard server, which compares it with a stored code representing the cardholder's face. The purchase is approved if the two codes match up.

In an interview with CNN Money, Ajay Bhalla, Executive, MasterCard executive, says, "We have too many passwords to remember and this creates extra problems for consumers and businesses. The new generation, which is into selfies ... I think they'll find it cool. They'll embrace it."

He adds that MasterCard will not be able to reconstruct the user's face from the data, and that the information will be transmitted and stored securely.

It is reported that the company already has in place with Google, Apple, Blackberry and Microsoft. Once the nitty gritties are put in place, the policy will be rolled-out to a global audience.