Mastercard Pushes Biometrics, Banks Follow

[vc_row][vc_column][tm_heading tag=”h5″ custom_google_font=”” google_fonts=”font_family:Poppins%3A300%2Cregular%2C500%2C600%2C700″ font_weight=”600″ text=”Mastercard has set a deadline for widespread use of biometric identification for its services across the whole of the EU: April 2019.” line_height=”1.4″][tm_spacer size=”lg:25″][tm_heading tag=”div” custom_google_font=”” text=”Mastercard Identity Check, currently available in 37 countries, enables individuals to use biometric identifiers, such as fingerprint, facial, and iris recognition, to verify their identities when using a mobile device for online shopping and banking. The technology is not mandatory for customers, but from next year it will be vigorously promoted throughout the EU and many consumers will welcome it.”][tm_spacer size=”lg:63″][vc_row_inner][vc_column_inner width=”3/12″][tm_image image=”875″][tm_spacer size=”sm:30″][/vc_column_inner][vc_column_inner width=”9/12″][tm_heading tag=”h5″ custom_google_font=”” font_weight=”600″ text=”Use psychological pricing methods.” line_height=”1.4″][tm_spacer size=”lg:23″][tm_heading tag=”div” custom_google_font=”” text=”The impact will be felt not just by consumers but also by most European banks, since any bank that issues or accepts Mastercard payments will have to support identification mechanisms for remote transactions, alongside existing PIN and password verification. The deadline will also apply to all contactless transactions made at terminals with a mobile device.”][tm_spacer size=”xs:30;lg:35″][tm_heading tag=”div” custom_google_font=”” text=”Citing research it carried out with Oxford University, Mastercard says that 92% of banking professionals want to introduce biometric ID. This high number shouldn’t come as much of a surprise given the vast untapped value consumer data holds for banks and corporations as well the preference most banks have for electronic transactions. “][/vc_column_inner][/vc_row_inner][tm_spacer size=”xs:30;lg:52″][tm_heading tag=”div” custom_google_font=”” text=”The study also claims that 93% of consumers would prefer biometric security to passwords, which is a surprise given the array of thorny issues biometrics throws up, including the threat it poses to privacy and anonymity and its deceptively public nature.”][tm_spacer size=”xs:30;lg:68″][vc_row_inner][vc_column_inner offset=”vc_col-md-6″][tm_heading tag=”h5″ custom_google_font=”” font_weight=”600″ text=”Demonstrate the differences” line_height=”1.4″][tm_spacer size=”lg:23″][tm_heading tag=”div” custom_google_font=”” text=”“A password is inherently private,” says Alvaro Bedoya, Professor of Law at Georgetown University. “The whole point of a password is that you don’t tell anyone about it. A credit card is inherently private in the sense that you only have one credit card.””][tm_spacer size=”sm:30;lg:68″][tm_heading tag=”h5″ custom_google_font=”” font_weight=”600″ text=”Offer a money-back guarantee” line_height=”1.4″][tm_spacer size=”lg:23″][tm_heading tag=”div” custom_google_font=”” text=”The prophets dislike nuclear on prudential grounds. You know, it’s too expensive, there’s a waste problem, there’s a risk of accidental meltdown. On a deeper level, they just don’t like the idea of giant corporate structures controlling something as powerful as energy. “][tm_spacer size=”sm:30;lg:68″][tm_heading tag=”h5″ custom_google_font=”” font_weight=”600″ text=”Test your offer and price, and be creative.” line_height=”1.4″][tm_spacer size=”lg:23″][tm_heading tag=”div” custom_google_font=”” text=”They are deeply attracted to this idea of self-reliant, smaller scale, more democratic communities in control of their own energy. I have to say this is something that’s really appealing to me. I’m talking to you from a small town with a house with a big solar array on the roof.”][/vc_column_inner][vc_column_inner offset=”vc_col-md-6″][tm_spacer size=”sm:40″][tm_image full_wide=”1″ image=”876″][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row]