In an attempt to combat identity theft, MasterCard is in the early stages of developing a completely new take on verifying the identity of customers who make online purchases. The latest is an app that requires a “selfie” photo to be snapped and uploaded in order to approve a transaction. The idea is based on the popularity of communication via pictures, that’s predominantly used by the millennial generation.
MasterCard is designing a system that would replace traditional verification procedures while appealing to the up-and-coming generation of shoppers. As the company continues to fine-tune the system, they are confident in the effectiveness and ease of use in the app.
Snapchat is an app that hugely influenced the creation of this online payment verification system by MasterCard. As technology evolves, so do users. Businesses must target an audience based on the most applicable form of media. In this case, it’s clear the new generation of young adults are defining how businesses transform as well.
How It Works
The MasterCard Selfie app works similar to the standard thumbprint. With technology advancements, scanners can analyze individual selfies to distinguish characteristics that uniquely identify a person. This is the evolution of the thumbprint.
Once a purchase is made, the purchaser receives an automatically generated link that’s sent to their cell phone. The link reminds the user to snap a selfie, which is used to authorize the transaction. It’s required for the user to blink during the picture to eliminate fraud by anyone trying to hold up an existing photo.