Apple Pay may have overreached it's "coolness", by making it easier for credit card fraud to occur within its payment system. "Payment cards can be added to Apple Pay by taking a photo of the card, and allowing a device to run optical character recognition over the image to fill out the long card number,...Read more
Apple Pay offers lower rates thanks to biometrics.
In connection with our earlier blog, Apple have announced that it is "...allowing Apple Pay merchants to pay card present rates (aka cardholder present) for all transactions consumers make in store using their mobile phones..." (Biometric Update) This announcement can be attributed to the use of biometrics, combined with NFC and tokenization. Cardholder present rates are considerably...Read more
Mastercard announces high level of success with biometric system.
In a closed pilot trial that used both voice and facial recognition for biometrics, Mastercard have announced a 98% success rate. The pilot, which used a group comprised of Mastercard employees from around the world, aims to gain a deeper understanding of consumer interaction with biometrics. The entire process apparently took less than ten...Read more