5. MasterCard launching selfie payments

Smile for your MasterCard authentication selfie!

MasterCard wants to ditch the old-fashioned password and use selfies to approve online purchases.

The company announced it is launching new mobile technologies that will allow customers to authenticate their online purchases using selfies or fingerprints.

The technology will be rolled out by big banks in the U.S., Canada, the U.K. and some European countries over the next few months.

People from around the world will be regularly using this authentication technology within five years, said Ajay Bhalla, president of enterprise security solutions at MasterCard (MA).

Bhalla said that using facial and fingerprint scans for purchases is safer than typed passwords since many customers foolishly use easy-to-guess codes.

Customers who want to try selfie authentication will have to download a special MasterCard app that will allow them to take a photo each time they make an online purchase. Their face (or fingerprint) will be scanned to prove that they -- not hackers or thieves -- are making a purchase.

The scan will verify that it's a legitimate selfie -- instead of a previously taken photo -- by requiring users to blink when they take their own photo.

The fingerprint authentication can be used on new smartphones, including the iPhone 6 and iPhone 6S.

MasterCard said it's also working on other ways to authenticate purchases, including monitoring a customer's heartbeat. Iris scans and voice recognition are also being explored.

MasterCard is not alone in introducing new technology to replace typed passwords.

HSBC (HSBC) announced last week that millions of account holders would soon be able to use their voice and fingerprints to access their money.

People who use HSBC's phone banking services will be able to register their voice with the company instead of using a regular password. Special voice biometrics technology will analyze a customer's voice when they call the bank. Even if customers get a cold, the technology should still work.

Customers with the latest iPhones -- which already boast fingerprint login technology -- will be able to access their accounts on their mobile phones using their fingerprint.

CNNMoney (London)
First published February 22, 2016: 12:45 PM ET
Extract from CCN

Comments

4 Science-Backed Health Benefits of Eating Organic

The organic food industry is a booming business, and with the recent sale of natural-foods giant Whole Foods to Amazon, it’s expected to grow even larger in the near future. While some consumers buy organic because they believe it's better for the environment, even more do so for health-related reasons, according to one 2016 survey. What, exactly, are the health benefits of going organic? That depends on who you ask and which studies you consult. But if you do choose to buy organic foods, here are some science-backed bonuses you’re likely to get in return. Fewer pesticides and heavy metals Fruits, vegetables and grains labeled organic are grown without the use of most synthetic pesticides or artificial fertilizers. (The National Organic Standard Board does allow some synthetic substances to be used.) While such chemicals have been deemed safe in the quantities used for conventional farming, health experts still warn about the potential harms of repeated exposure. For ex...

Tai Chi May Help Prevent Falls

Practicing tai chi helps older people improve their balance and avoid falls, a review of studies has found. Tai chi is a form of Chinese martial arts now practiced as exercise. It involves a specific program of graceful movements, accompanied by deep breathing and mental focus, that slowly move the center of balance from one leg to the other. Researchers found 10 randomized trials analyzing the effect of tai chi on the incidence of falls or the time until an elderly person first has a fall. All studies compared tai chi to usual care or other treatments like physical therapy, stretching or exercise. The analysis, in the Journal of the American Geriatric Society, found that tai chi reduced the incidence of falls by 43 percent in those followed for less than a year and by 13 percent in those followed longer. There was no effect of tai chi on time to first fall, and there was some weak evidence that the practice reduced the number of falls that resulted in injury. Falls are a le...

Disney nixes happiest currency on Earth

Disney is no longer minting money. At least one kind -- the company recently announced that it will no longer print and sell its beloved currency, Disney Dollars. The bills, which feature iconic Disney (DIS) characters and are signed by treasurer Scrooge McDuck, are worth real U.S. dollars. They're like gift certificates and can still be used at Disney theme parks, resorts, hotels, restaurants and stores. But for many Disney die-hards, they're also collectibles Typically Mickey Mouse was on the $1, Goofy was on the $5 and Minnie Mouse was on the $10. The bills also featured princesses like Cinderella and Sleeping Beauty, villains like Cruella de Vil and Captain Hook; and characters like Dumbo, Simba, the 101 Dalmations and even Lilo from "Lilo and Stitch." Disney stopped selling the bills on May 14, but many are listed on eBay (EBAY). A special edition $50 bill from 2005 that marked Disneyland's 50th anniversary just sold for $495 on Wednesday, whic...

Keen

Search This Blog