Innovations in biometric authentication are slowly moving consumers away from passwords for online checkouts. These advancements include the MasterCard Identity Check suite of solutions that prove a consumer’s identity while simplifying online transactions. A MasterCard global survey of about 10,000 consumers found that 53% of frustrated shoppers forget important passwords more than once a week, leading more than a third of them to abandon an online purchase.
MasterCard just wrapped up pilots in the U.S. and the Netherlands that enabled biometrics for online payments. Regarding ID’s Gina Jordan spoke with Bob Reany, senior vice president of Identity Solutions at MasterCard, about the development and implementation of a mobile and biometric authentication strategy for online purchases.