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If you thought using Apple Pay was easy, the Mastercard Biometric Checkout Program lets you pay by simply smiling at the payment terminal.

The company says the initiative will be rolled out globally, starting with trials in Brazil…

Background

Banks and financial companies are understandably interested in using biometrics to authorize card payments. Payment fraud has tripled to over $30 billion in the past decade, and laws in most countries leave card companies on the hook for all or most of them.

E-wallet services such as Apple Pay, Google Pay, and Samsung Pay reduce risk for card companies but also incur costs. Banks have been trying to access the NFC chip in iPhones and Apple Watches for years, so they may offer cardholders the ability to use their own apps instead, with no success so far.

Even if they succeeded, it’s unlikely that iPhone users would trade the convenience of a universal app for a bunch of separate ones.

But if card networks like Mastercard and Visa can allow people to make biometric payments with even more convenience than Apple Pay, they may finally have a chance to take Apple out of the cycle.

Mastercard biometric verification program

Mastercard announced the program today.

No more fiddling with your phone or rummaging through your wallet when your hands are full—the next generation of in-person payments will only require a quick smile or a wave of the hand. Trusted technology that uses your face or fingerprint to unlock your phone can now help shoppers speed up the checkout process. With the new Mastercard biometric verification program, all you need is you […]

Once checked in, there is no need to slow down the checkout line by searching their pockets or bag. Consumers can simply check the bill and smile for the camera or wave their hand over the payment device. The new technology provides a fast and secure checkout and gives consumers the ability to choose how they want to pay.

For merchants, the benefits are also significant, from faster transaction times and shorter queues to greater hygiene and increased security. The payment system can be integrated with loyalty programs and personalized recommendations to help consumers find products they may be interested in based on previous purchases.

The company says it will be easy to sign up both in-store and at home using the app.

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The initial pilot project is tiny – it operates in just five supermarkets in Sao Paulo, Brazil – but Mastercard plans to roll out the service worldwide.

Mastercard is partnering with partners such as NEC, Payface, Aurus, PaybyFace, PopID and Fujitsu Limited to launch and scale these new checkout opportunities around the world.

Sure, you can use Face ID on your iPhone to authorize an Apple Pay transaction, but what’s new here is that you don’t need to carry any device or card with you – only your face authorizes the payment.

Would you switch from Apple Pay to a smile at a payment terminal? Let us know about it in the comments.

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