In addition to facial recognition, the app also supports fingerprint recognition to serve as a form of two-factor authentication. MasterCard will also be offering an API that allows financial institutions to integrate these security features into their own apps.
The app will be available as a free opt-in additional service for Apple, Android and Windows Phone devices, enabling customers to swipe their finger on the device’s fingerprint reader or to take a selfie with the front camera.
As a security measure, MasterCard does not store the customer’s actual fingerprint or photo on the device. Rather, it examines the face/fingerprint scan and uses an algorithm to create a string of numbers, which is encrypted and then sent to the credit card compny to compare with the encrypted string it has on file.
MasterCard initially began rolling out the Identity Check app in Canada and the US. The launch date for Australia was not yet specified.
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